Murrey Math Lines 20.08.2020 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after leaving the “oversold area”, USDCHF is moving at 2/8. In this case, the price is expected to break this level and then continue growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling towards the support at 0/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is moving not far from 7/8. In this case, the price is expected to break this level and continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.
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 trading downwards to reach 6/8 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.