Murrey Math Lines 21.07.2020 (AUDUSD, NZDUSD)

July 21, 2020

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading above 5/8. In this case, the pair is expected to continue growing 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”

As we can see in the H4 chart, after rebounding from 8/8 again, NZDUSD is expected to resume trading downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +1/8.

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

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

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.