Murrey math lines: USD/CHF, Gold
|USD/CHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCH is no longer trading within the “oversold area”. In this case, the price is expected to break the resistance at 1/8 and continue the correction to reach 2/8. Still, this scenario may no longer be valid if the price rebounds from 1/8 to the downside. After that, the instrument may fall towards the support at 0/8.
As we can see in the M15 chart, the pair has broken the upside line of the Volty Channel indicator and, as a result, may continue the ascending tendency.
XAU/USD, “Gold vs US Dollar”
As we can see 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 rebound from the support at 6/8 and resume growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards 5/8.
In the M15 chart, the pair may break the upside line of the Volty Channel indicator and, as a result, continue growing.
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