Murrey Math Lines 20.08.2020 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after leaving the “oversold area”, USDCHF is moving at 2/8. In this case, the price is expected to break this level and then continue growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling towards the support at 0/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is moving not far from 7/8. In this case, the price is expected to break this level and continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 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 to reach 6/8 from the H4 chart.

Article By RoboForex.com

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