Murrey math lines: USDCHF, Gold

Murrey math lines: USDCHF, Gold

USD/CHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading below 8/8. In this case, the price is expected to fall towards 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 to reach the resistance at +2/8.

USDCHF

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 the descending tendency towards 6/8 from the H4 chart.

USDCHF

 

XAU/USD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is trading not far from 3/8. In this case, the price is expected to continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may continue falling towards 1/8.

XAUUSD

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 to reach 5/8 from the H4 chart.

XAUUSD



Source: FxStreet

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