Murrey Math Lines 10.02.2022 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after rebounding from the 200-day Moving Average, USDCHF is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 8/8, break it, and continue growing to reach the resistance at +1/8. However, this scenario may be cancelled if the price breaks the support at 7/8 to the downside. After that, the instrument may fall towards 5/8.

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

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading above it to indicate an ascending tendency. In this case, the price is expected to break 7/8 and move upwards to reach the resistance at +1/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and resume falling towards the support at 4/8.

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 trading upwards.

Article By RoboForex.com

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