Murrey Math Lines 03.02.2022 (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 below it, thus indicating a possible descending tendency. In this case, the price is expected to test 6/8, break it, and continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price tests and breaks 7/8 to the upside. After that, the instrument may grow towards the resistance at 8/8.

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 trading downwards.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to break 3/8 and move downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and resume growing towards 5/8.

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

Article By RoboForex.com

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