Murrey Math Lines 17.06.2021 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 5/8, rebound from it, and then resume growing to reach the resistance at 7/8. Still, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may correct towards the support at 4/8.

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”

In the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 2/8, break it, and continue falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

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.