Murrey math lines: USD/CHF, gold
|USD/CHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating the completion of the correction within the uptrend. In this case, the price is expected to break 6/8 and resume growing to reach the resistance at 7/8. Still, this scenario may no longer be valid if the price breaks the 200-day Moving Average to the downside. After that, the instrument may reverse and fall towards the support at 5/8.
In the M15 chart, the pair may break the upside line of the Volty Channel indicator and, as a result, continue its growth.
XAU/USD, “Gold vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue moving upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price rebounds from 2/8. After that, the instrument may reverse and fall towards 1/8.
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 moving upwards.
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