Murrey Math Lines 24.10.2019 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is consolidating between 5/8 and 3/8. In this case, the price is expected to test 5/8, rebound from it, and then resume falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, move downwards to reach 3/8 from the H4 chart.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is still consolidating. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards the support at 2/8.
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 the ascending tendency on this timeframe towards the resistance at 5/8 from the H4 chart.
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.