Murrey Math Lines 24.06.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 7/8, break from it, and then continue growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct towards the support at 5/8.
In the M15 chart, the pair may break 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 trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling to reach the closest support at 0/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 2/8.
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 moving downwards.
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.