Murrey math lines: USD/CHF, gold
|USD/CHF, “US Dollar vs Swiss Franc”
On H4, USD/CHF quotations are trading under the 200-days Moving Average, which means a downtrend is prevailing. Nonetheless, the price is already approaching the oversold area. Hence, we expect a test of 0/8, a bounce off it, and growth to the resistance level at 2/8. This growth should be interpreted as a correction. The scenario will no longer be valid if the price breaks through 0/8 top-down, which miht lead the quotations to the support level of -2/8.
On M15, a breakaway of the upper border of the VoltyChannel indicator will increase the probability of the growth of the price.
XAU/USD, “Gold vs US Dollar”
On H4, USD/CHF quotations are trading under the 200-days Moving Average, which means a downtrend is prevailing. Nonetheless, the price is correcting, growing to 3/8. Hence, we expect it to test 3/8, bounce off it, and go on falling by the trend to the support at 1/8. The scenario might be canceled by a breakaway of 3/8 upwards, in which case the quotations will go on growing to the resistance level of 4/8.
On M15, the falling of the price might be supported by a breakaway of the lower border of VoltyChannel.
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