Murrey Math Lines 29.08.2017 (EUR/USD, GOLD)

EUR USD, “Euro vs. US Dollar”

As we can see at the H4 chart, the EUR/USD pair has left the channel formed by the 3/8 and 5/8 levels. Later, the price is expected to test the 5/8 level at 1.1840 and then continue growing towards the resistance at the 8/8 one at 1.2207.

At the H1 chart, the price is trading inside the “sales” area. If the pair breaks the 8/8 level at 1.1962, the instrument may continue moving downwards to reach 1.1840.

At the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, move downwards to reach 1.1840.

XAU USD, “Gold vs US Dollar”

At the H4 chart, the XAU/USD pair is trading above the 8/8 level at 1312.50. The price is expected to break this level and fall towards the 5/8 one at 1265.63.

As we can see at the H1 chart, the price is also trading in the “sales” area and confirms the H4 chart scenario.

At the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 1265.63.

RoboForex Analytical Department