Murrey Math Lines 04.03.2021 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing towards the resistance at 8/8. Still, this scenario may no longer be valid if the price break 6/8 to the downside. After that, the instrument may correct downwards to reach the support 5/8.

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 the ascending tendency.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is trading inside the “oversold area”. In this case, the price is expected to break -1/8 and then continue growing to reach the resistance at 1/8. However, this scenario may no longer be valid if the price falls and breaks -2/8 to the downside. After that, the lines in the chart will be redrawn, thus helping us to define new targets.

In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue growing.

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.