Murrey Math Lines 02.05.2019 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has broken the 7/8 level and fixed below it. In the future, the price may continue falling to reach the support at the 5/8 level.
In the H1 chart, the pair may rebound from the 3/8 level and resume trading downwards to reach the support at the 0/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is still consolidating. In this case, the price is expected to resume moving upwards to reach the resistance at the 5/8 level.
However, in the H1 chart the situation is a bit different. The pair may break the 6/8 level and then test the support at the 5/8 one. In this case, the price may rebound from the latter level and resume growing towards the resistance at the +1/8 one.
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.