17 Feb

Murrey Math Lines 17.02.2022 (USDCHF, GOLD)

February 17, 2022

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after rebounding from the “overbought area”, USDCHF is trading below 7/8. In this case, the price is expected to continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks 8/8 to the upside. After that, the instrument may reverse and grow towards the resistance at +2/8.

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 falling.

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XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has reached the “overbought area”. In this case, the price is expected to rebound from 8/8 and move downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and resume growing towards the next 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.

Article By RoboForex.com

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Murrey Math Lines 17.02.2022 (USDCHF, GOLD)