Murrey Math Lines 07.04.2022 (USDCHF, GOLD)

April 7, 2022

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break the resistance at 5/8 and then continue growing to reach 6/8. However, this scenario may be cancelled if the price breaks the support at 4/8 to the downside. After that, the instrument may reverse and fall towards 3/8.

USDCHFH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is trading at the 200-day Moving Average, thus indicating a sideways tendency. In this case, there might be two possible scenarios, and at first glimpse, each of them has equal chances. The first scenario implies that the asset may break the support at 1/8 and continue falling towards 0/8, while the second one suggests a breakout of the resistance at 2/8 and a further uptrend to reach 3/8. If we take a closer look at the chart, we may assume that the second scenario is less likely, because the price already tried to break the resistance at 2/8 but failed. Hence, the former scenario is more probable.

XAUUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

XAUUSD_M15

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.