Murrey Math Lines 07.10.2021 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after breaking 8/8, USDCHF is no longer trading inside the “overbought area”. In this case, the price is expected to continue falling to reach the support at 7/8. However, this scenario may be cancelled if the price breaks 8/8 to the upside. After that, the instrument may continue growing 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 trading downwards.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after leaving the “oversold area”, XAUUSD is trading at 1/8. In this case, the price is expected to break this level and then continue moving upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks the support at 0/8 to the downside. After that, the instrument may get back inside the “oversold area” and fall towards -1/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth towards 2/8 from the H4 chart.

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.