Murrey math lines: USD/CHF, gold
|USD/CHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading inside the “oversold area”. In this case, the pair is expected to test -1/8, break it, and then continue growing to reach the resistance at 0/8. However, this scenario may be cancelled if the price breaks the support at -2/8 to the downside. After that, the lines in the chart will be redrawn, thus helping us to define new downside targets.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
XAU/USD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break the support at 1/8 and continue moving downwards to reach 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 reverse and grow towards 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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.