Murrey Math Lines 17.02.2022 (USDCHF, GOLD)

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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.

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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