Murrey Math Lines 02.06.2022 (USDCHF, GOLD)
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.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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