Murrey Math Lines 31.03.2022 (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 to indicate a possible descending tendency. In this case, the price is expected to break 3/8 and then continue falling to reach the support at 2/8. However, this scenario may be cancelled if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.

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 above the 200-day Moving Average, 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.

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

Article By RoboForex.com

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