WIKIFX REPORT: Murrey Math Lines 07.06.2022 (AUDUSD, NZDUSD)
Abstract：Murrey Math Lines are support and resistance lines based on geometric mathematical formulas developed by T. H. Murrey. MM lines are a derivation of the observations of W.D. Gann. Murrey's geometry facilitate the use of Gann's theories in a somewhat easier application. Below are for some pairs:
AUDUSD, “Australian Dollar vs US Dollar”
We can easily observe in the H4 chart, AUDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and resume falling towards 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, NZDUSD is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to continue moving downwards to reach the closest support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may reverse and grow towards 7/8.
As we can observe in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline to reach 4/8 from the H4 chart.
Read more
Plus500 Has Signed A 4-Year Global Partnership Contract With The Chicago Bulls
Plus500, an online trading company, has signed a multi-year sponsorship partnership with the Chicago Bulls, the most illustrious professional basketball team in the National Basketball Association and one of the most venerable sports organizations in the world.
Tickmill UK Sees 86% Profit Jump in 2021 despite a Revenue Decline
Revenue for the year declined by 8.3 percent. Trading volume also remained flat.
Match-Trade Technologies Promotes Michał Karczewski as CEO
He was the COO of the company for almost six years. Match-Trade ended 2021 with solid figures.
cTrader "Preferred Alternative" for Brokers after MT4 and MT5 Ban on App Store
cTrader received 53% of the vote in the Finance Magnates survey. It was well ahead of its competitors, including MatchTrader and Leverate.
WikiFX Broker
Latest News
OvalX (formerly ETX Capital) Loses Money in 2021, Client Count Increases
WikiFXPlus500 Has Signed A 4-Year Global Partnership Contract With The Chicago Bulls
WikiFXBeware This Unregaluated Broker CryptoAllDay - Scam Alert!
WikiFXAnalysis-Under water: how the Bank of England threw markets a lifeline
WikiFXPU Prime’s Mohanad Yakout Joins OnePro as Global Head of Market Research
WikiFXBank of England’s FX Dealer Chris Mills Departs after 18 Years
WikiFXOvalX (Previously ETX Capital) Turns Loss in 2021, Client Count Jumps
WikiFXOver trading a sure way to blow your account
WikiFXPound jumps on UK tax cut reversal, oil swings higher
WikiFXInstant View: British pound up as govt makes U-turn on tax cut plan
WikiFXRate Calc
