Murrey Math Lines 09.07.2020 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after breaking 3/8, USDCHF is moving below it. In this case, the price is expected to continue trading downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing towards the resistance at 3/8.
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 the descending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is moving above 5/8. In this case, the price is expected to continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may get back inside the consolidation range and continue falling towards the support at 4/8.
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 trading upwards to reach 7/8 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.