Murrey Math Lines 22.10.2020 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating a descending tendency. However, yesterday the pair rebounded from the strong support at 0/8. In this case, the price is expected to correct upwards and reach 3/8. Still, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling towards the support at -1/8.
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.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue falling towards the support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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.