Murrey Math Lines 20.05.2021 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after breaking 0/8, USDCH is trading above it. In this case, the price is expected to continue growing to reach the closest resistance at 1/8. Still, this scenario may no longer be valid if the price break 0/8 to the downside. After that, the instrument may fall towards the support at -1/8.

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 has reached the “overbought area”. In this case, the price is expected to rebound from 8/8 and resume falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may reverse and grow towards the resistance at +1/8.

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

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.