Murrey Math Lines 08.08.2019 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is moving inside the “oversold area”. In this case, the pair may break 0/8 and continue growing towards the resistance at 3/8. However, as long as the price is trading below 0/8, the descending tendency may continue to reach the support at -2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 3/8 from the H4 chart.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading close to the “overbought area”. In this case, the price may rebound from 8/8 and then resume falling to reach the support at 7/8.
In the M15 chart, the pair may the downside line of the VoltyChannel indicator and, as a result, 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.