Murrey Math Lines 07.04.2022 (USDCHF, GOLD)

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.

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.

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.

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

Article By RoboForex.com

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