Murrey Math Lines 08.04.2021 (USDCHF, XAUUSD)

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotations are trading above the 200-days Moving Average which indicates an uptrend. We expect them to grow to the nearest resistance level of 5/8. The scenario might be canceled by a breakaway of 4/8 downwards. In this case, the trend will reverse, and the quotations will reach the support at 3/8.

On M15, a breakaway of the upper border of VoltyChannel will be yet another signal for the growth of the price.

XAUUSD, “Gold vs US Dollar”

On H4, the quotations are trading in a consolidation range between 3/8 and 5/8. We expect them to get over 4/8 and grow further to the resistance at 5/8. The scenario can be canceled by a breakaway of 3/8 downwards, which might provoke the price to drop further to the support at 2/8.

On M15, a breakaway of the upper border of VoltyChannel will make the growth of the price more probable.

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.