Murrey math lines: USD/CHF, gold
|USD/CHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the price is expected to test break +1/8 and then continue falling to reach the support at 7/8. However, this scenario may be cancelled if the price breaks the resistance at +2/8 to the upside. After that, the lines in the chart will be redrawn, thus helping us to define new upside targets.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
XAU/USD, “Gold vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 3/8, rebound from it, and then move downwards to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may continue growing towards 5/8.
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 its decline.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.