Murrey Math Lines 28.04.2022 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may be cancelled if the price breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and grow towards +1/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline to reach 8/8 from the H4 chart.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD has reached the “oversold area”. In this case, the price is expected to rebound from 0/8 and resume moving upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks the support at 0/8 to the downside. After that, the instrument may reverse and correct down to -1/8.

As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume trading upwards only after rebounding from 0/8 in the H4 chart.

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.