Murrey Math Lines 02.06.2022 (USDCHF, GOLD)

02.06.2022

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the pair is expected to rebound from 3/8 and then resume falling to reach the support at 1/8. However, this scenario may be cancelled if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow towards 4/8.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 3/8 and continue moving downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.

Gold
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

Gold
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.