Murrey Math Lines 01.08.2019 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is consolidating. In this case, the pair is expected to continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the instrument breaks 3/8. After that, the pair may start a new decline to reach the support at 1/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has broken the uptrend line; right now. It is trading below it. In this case, the price may continue falling towards the support at 4/8. However, this scenario may no longer be valid if the instrument breaks 7/8. After that, the pair may continue growing to reach the resistance at +1/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
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.