Murrey Math Lines 28.10.2021 (USDCHF, GOLD)
28.10.2021USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after rebounding from 0/8, USDCHF is trading not far from the resistance at 1/8. In this case, the price is expected to break the latter level and then continue growing to reach the resistance at 3/8. However, this scenario may be cancelled if the price breaks the support at 0/8 to the downside. After that, the instrument may continue falling towards -2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
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 its growth.
Attention!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.