Murrey Math Lines 06.06.2019 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the downtrend continues. Right now, USDCHF is trading close to the 3/8 level. If the pair rebounds from this level, it may resume falling towards the support at the 0/8 one. However, if the instrument breaks the 3/8 level upwards, the pair may start a new correction to reach the resistance at the 5/8 one.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards. Right now, the pair is trying to break the upside line, thus indicating a possible rising correction.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD rebounded from the 8/8 level yesterday, which means a new decline towards the support at the 4/8 one. To confirm this scenario, the pair must break the 6/8 level. As long as the price is trading above this level, the ascending tendency may yet continue. In this case, the instrument may enter the “overbought area” and reach the +1/8 level.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.