Murrey Math Lines 27.08.2020 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is moving between 0/8 and 1/8. In this case, the price is expected to break 1/8 and then continue growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling towards the support at -1/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, after breaking 7/8, XAUUSD is moving above it. In this case, the price is expected to continue growing to reach the next resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.

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.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.