Murrey Math Lines 09.05.2019 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading upwards and may continue this movement towards the resistance at the 8/8 level. However, this scenario may be cancelled if the instrument breaks the 6/8 level. In this case, the price may continue falling towards the support at the 4/8 one.

In the H1 chart, the pair is consolidating close to the upside border of the range. In this case, the instrument may break the 5/8 level and continue moving upwards to reach the resistance at the 8/8 one.

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 trading upwards.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is still consolidating. In this case, one should wait until the price breaks one of the borders and decides on where to go in the future. There are two possible scenarios. The first scenario implies that the pair may break the 5/8 level and continue growing to reach the resistance at the 7/8 one. According to the second one, the instrument may break the 3/8 level and continue falling towards the support at the 1/8 one.

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 trading downwards. However, if the price breaks the indicator’s upside line, the above-mentioned scenario may be cancelled.