Murrey Math Lines 17.03.2022 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing to reach the resistance at 8/8. However, this scenario may be cancelled if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall 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 growing.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, after rebounding from the 200-day Moving Average, XAUUSD is trading above it, thus indicating a further ascending tendency. In this case, the price is expected to break 7/8 and continue moving upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 6/8 to the downside. After that, the instrument may reverse and form a new descending wave towards 5/8.

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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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.