Murrey Math Lines 03.05.2018 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading inside the “overbought zone” above the 8/8 level. In this case, the price may test the +2/8 level, rebound from it, and then resume falling to reach the +1/8 one.
In the H1 chart, the pair may test the resistance at the 8/8 level, rebound from it, and then resume falling towards the support at the 5/8 one.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading inside the “oversold zone” below the 0/8 level. Later, the price is expected to break the 0/8 level and then continue moving upwards to reach the resistance at the 2/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1328.13.
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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 bears no responsibility for trading results based on trading recommendations described in these analytical reviews.