Murrey Math Lines 25.03.2021 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the price is expected to break +1/8 and then continue falling towards the support at 7/8. Still, this scenario may no longer be valid if the price breaks the resistance at +2/8 to the upside. After that, the lines in the chart will be redrawn, thus helping us to define new targets.

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

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after failing to break the resistance at 4/8, XAUUSD is expected to break 3/8 and continue falling to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may continue growing towards 5/8.

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