Murrey Math Lines 15.07.2021 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating the completion of the correction within the uptrend. In this case, the price is expected to break 6/8 and resume growing to reach the resistance at 7/8. Still, this scenario may no longer be valid if the price breaks the 200-day Moving Average to the downside. After that, the instrument may reverse and fall towards the support at 5/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue moving upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price rebounds from 2/8. After that, the instrument may reverse and fall towards 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 moving upwards.

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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.