Murrey Math Lines 28.08.2017 (GOLD, AUD/USD)

XAU USD, “Gold vs US Dollar”

At the H4 chart, the XAU/USD pair is trading close to the 7/8 level at 1296.88. The price is expected to break this level and grow towards the resistance at the 8/8 one 1312.50. After reaching it, the instrument may rebound and start falling with the target at the 5/8 level at 1265.63.

As we can see at the H1 chart, the levels are too close to each other. The price is expected to break the +2/8 level at 1304.69. If it happens, the levels will be either expanded or redrawn. In the latter case, one may see new entry points that confirm the H4 chart scenario.

AUD USD, “Australian Dollar vs US Dollar”

As we can see at the H4 chart, the AUD/USD pair has broken the 1/8 level at 0.7934. Later, the price is expected to continue growing to reach the 3/8 level at 0.8178.

At the H1 chart, the pair may break the +2/8 level at 0.7965. In this case, the levels at the chart will be redrawn.

At the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue growing towards 0.8178.

RoboForex Analytical Department