Murrey Math Lines 29.09.2017 (GOLD, USD/CHF)

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, the XAU/USD pair has reached its target at the 0/8 level at 1281.25 and rebounded from it. Right now, the price is expected to test this level again, rebound from it one more time, and then continue moving upwards to reach 3/8 one at 1304.69.

The future scenario depends on the price movement on the M15 chart. If the pair breaks the upside line of the VoltyChannel indicator, it won’t test 1281.25. In this case, the instrument may continue growing towards 1304.69.

USD CHF, “US Dollar vs Swiss Franc”

At the H4 chart, the USD/CHF pair is expected to break the resistance at the 8/8 level at 0.9765 and then test the +1/8 one at 0.9826. The price may rebound from this level and resume moving downwards to reach the 5/8 one at 0.9582.

The H1 chart may slightly change the H4 chart forecast. Here, the pair is also expected to test the resistance at the 8/8 level (0.9765), break it, and then continue growing towards the +1/8 one (0.9796). However, the +1/8 level on the H1 is located a bit lower than on the H4 one. It means that the price may start falling before reaching 0.9826. In this case, it’s better to wait until the instrument breaks the 8/8 level downwards and only then consider opening short positions with the downside target at 0.9582.

RoboForex Analytical Department