Murrey Math Lines 08.06.2021 (AUDUSD, NZDUSD)

June 8, 2021

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 7/8 and then continue moving upwards to reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.


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AUDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. In this case, the instrument may reverse and fall towards the support at 2/8.

NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth to reach 7/8 from the H4 chart.

NZDUSD_M15

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.