Murrey math lines: USD/CHF, gold
|USD/CHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 6/8, break it, and then continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks the resistance at 7/8 to the upside. After that, the instrument may grow towards the next resistance at 8/8.
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”
As we can see 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 1/8, break it, and then move downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may continue growing towards the next resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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