Murrey Math Lines 26.01.2021 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is moving between 7/8 and 6/8. In this case, the price is expected to break 6/8 and then continue the correction within the uptrend to reach the support at 5/8. However, this scenario may be canceled if the price breaks the resistance at 7/8 to the upside. After that, the instrument may reverse and grow towards 8/8.
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”
As we can see in the H4 chart, after failing to fix above 6/8, NZDUSD is moving downwards. In this case, the price is expected to continue falling to return to 5/8. However, this scenario may no longer be valid if the price tries to break 6/8 to the upside again. If it succeeds, the instrument may reverse and continue growing to reach the resistance at 8/8.
In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue falling.