30 Sep

Murrey Math Lines 30.09.2021 (USDCHF, GOLD)

September 30, 2021

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading inside the “overbought area”. In this case, the price is expected to test 8/8, break it, and then continue falling to reach the support at 7/8. However, this scenario may be cancelled if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.

USDCHFH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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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 break the support at 2/8 and then continue moving downwards to reach 1/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow towards 5/8.

XAUUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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 its decline.

XAUUSD_M15

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.


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