Murrey Array Analysis 23.02.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations are trading in the overbought area. Currently, the price is bouncing off +2/8. This means that the quotations are likely to fall to the nearest support at +1/8. A breakaway of +1/8 can provoke further decline to the next support at 8/8. The scenario might be canceled by a breakaway of +2/8 upwards. In this case, Murrey lines will be rearranged, so that new goals for growth will be set.



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

On M15, the falling of the price will be additionally supported by a breakaway of the lower line of VoltyChannel.

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”

On H4, the quotations have reached the overbought area. Currently, we expect them to bounce off 8/8 and fall to the support at 6/8. This can be interpreted as a correction in the uptrend. Such a scenario can be canceled by a breakaway of 8/8 upwards, which will lead the quotations further upwards to the resistance at +1/8.

NZDUSD_H4

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

On M15, a breakaway of the lower border of VoltyChannel will increase the chances for a decline.

NZDUSD_M15

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

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Source: RoboForex


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