Murrey Math Lines 02.11.2017 (USD/CHF, GBP/USD)

USD CHF, “US Dollar vs Swiss Franc”

As we can see at the H4 chart, the USD/CHF pair has rebounded from the resistance at the 8/8 level at 1.0009. Later, the price is expected to start a new descending tendency with the first target at the 5/8 level at 0.9826.

At the H1 chart, the situation is quite similar. However, an alternative scenario implies that the price may test the 8/8 level at 1.0009 once again, rebound from it, and then resume falling towards 0.9826.

As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading to the downside.

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair has reached the upside border of the consolidation channel at the 5/8 level at 1.3305. Later, the price is expected to break this level and continue growing towards the next target at the 6/8 one at 1.3427.

At the H1 chart, the pair may break the 2/8 level at 1.3305. In this case, the price continue moving upwards to reach 1.3427.

At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing towards 1.3427.

RoboForex Analytical Department