Murray Math Lines 16.07.2019 (AUDUSD, NZDUSD)
AUDUSD
On H4 the instrument is trading above the consolidation area. The growth of price up to the resistance level 8/8 is expected. The scenario may no longer be valid if the price breaks through 6/8, which may entail further decline to the support at 5/8.
On M15 the upper line of the VoltyChannel is broken. This signifies prevalence of an ascending trend and may result in further price growth.
NZDUSD
On H4 the instrument is trading in the overbought area. In this situation a breakthrough of 8/8 may lead to a correction down to 6/8. The scenario may no longer be valid if the instrument keeps growing, which may lead to a breakthrough of +2/8 and readjustment of the Murray lines. All in all, there is potential for growth but the goals may be determined after the readjustment of the lines.
On M15 the upper line of the VoltyChannel is broken through. This signifies high probability of further growth.
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.