Murrey Math Lines 25.08.2022 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. In this case, the pair is expected to rebound from 6/8 and resume growing towards the resistance at 8/8. However, this scenario may be cancelled if the price breaks the support at 5/8 to the downside. After that, the instrument may move downwards to reach 4/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average within the “overbought area”, thus indicating a descending tendency. In this case, the price is expected to break the support at 8/8 and continue moving downwards to reach 7/8. However, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may reverse and resume growing towards +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 7/8 from the H4 chart.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.