Murrey Math Lines 04.08.2022 (USDCHF, GOLD)

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USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is still trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the pair is expected to test 2/8, break it, and then continue falling towards the support at 1/8. However, this scenario may be cancelled if the price breaks the resistance at 3/8 to the upside. After that, the instrument may move upwards to reach 4/8.

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

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, XAUUSD is also trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks the support at 4/8 to the downside. After that, the instrument may reverse and resume falling to return to 3/8.

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

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.