Murrey Math Lines 20.01.2022 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 2/8. However, this scenario may be cancelled if the price tests and breaks 5/8 to the upside. After that, the instrument may grow towards the resistance at 7/8.

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”

In the H4 chart, XAUUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and move upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may continue falling towards 3/8.

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 growing.

Article By RoboForex.com

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