Murrey Math Lines 13.06.2019 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, the downtrend continues. Right now, USDCHF is trading close to 3/8. If the pair rebounds from this level, it may resume falling towards the support at 0/8. However, if the instrument breaks 3/8 upwards, the pair may start a new correction to reach the resistance at 5/8.

In the H1 chart, the pair is trading above 5/8, thus indicating further growth towards 8/8 and +2/8. As a result, the most probable scenario is the one that implies further ascending movement. However, this scenario may no longer be valid if the price breaks 5/8. In this case, the instrument may resume falling to reach the support at 0/8.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has failed to break the resistance at 7/8, which means a new decline towards the support at 3/8. However, this scenario may be no longer valid if the pair breaks the resistance at 7/8. In this case, the instrument may continue growing towards the “overbought area” up to +2/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, resume moving downwards.