Murrey Math Lines 08.02.2018 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has broken the 5/8 level and left its consolidation range. However, the price is very likely to break the above-mentioned level again and return into the range. As a result, the instrument may start a new decline to reach the 4/8 level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair may break the 5/8 level and resume falling towards the first target at the 3/8 one. The main downside target is the support at the 0/8 level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, the price is consolidating between the 3/8 and 5/8 levels. Later, XAUUSD is expected to rebound from the support at the 4/8 level and grow towards the resistance at the 5/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the price may break the 0/8 level and then resume growing to reach the resistance at the 2/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
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.