Murrey Math Lines 16.10.2018 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is expected to continue growing towards the resistance at the 3/8 level.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to break the 3/8 level and continue falling towards the support at the 1/8 one.
As we can see in the H1 chart, the instrument has rebounded from the resistance at the 8/8 level and may resume trading downwards to reach the 5/8 one. However, another scenario implies that the pair may test the 8/8 level once again.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.