Murrey Math Lines 04.07.2019 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is no longer trading inside the “oversold area”; right now, it is moving to reach the target at 3/8. The only obstruction left is 2/8. Hence, the pair is expected to break it and grow towards the resistance at 3/8. However, this scenario may no longer be valid if the instrument breaks 1/8. After that, the pair may start a new decline to reach the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is trading above 5/8. In this case, the price may continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the instrument breaks 5/8. After that, the pair may resume falling to reach the support at 3/8.
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. However, if the price breaks the downside line, the instrument may resume falling to reach the support at 3/8 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.