Murrey Math Lines 03.09.2020 (USDCHF, GOLD)

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

In H4, the quotations have broken away 1/8 and are trading under it. This means they may further grow to the resistance level of 3/8. This scenario might be canceled by a breakaway of 1/8 top-down, which may lead to another decline of the quotations to the support level of 0/8.

On M15, the upper border of VoltyChannel is broken away, which supports further growth of the price.

XAUUSD, “Gold vs US Dollar”

On H4, the quotations are trading near 7/8. We expect this level to be broken away and the price to fall to 6/8. This scenario might only be canceled by a breakaway of 8/8, which may provoke another wave of growth to all-time highs.

On M15, the lower border of VoltyChannel is broken away, which confirms a downtrend on this timeframe and high probability of further falling.

Article By RoboForex.com

Attention!
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.