Murrey Math Lines 14.08.2018 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is expected to test the 3/8 level, rebound from it, and then resume falling towards the support at the 0/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
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 may continue falling towards the support at the 3/8 level.
As we can see in the H1 chart, the pair has left the “oversold zone”. In this case, the instrument is expected to break the resistance at the 1/8 level and then continue trading upwards to reach the 3/8 one.
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.