Murrey Math Lines 05.08.2021 (USDCHF, XAUUSD)
USDCHF, "US Dollar vs Swiss Franc"
On H4, the quotations have escaped the oversold area and are trading above 1/8. We currently expect them to test the resistance level of 2/8, break through it, and then grow to 3/8. The scenario can be cancelled by a breakaway of 1/8 downwards. In this case, the quotations will resume falling, and the price might return to 0/8.
On M15, the upper border of VoltyChannel is broken away, which increases the chances for further growth of the price.
XAUUSD, "Gold vs US Dollar"
On H4, the quotations keep trading in a consolidation range between 3/8 and 5/8. Yesterday they broke through the support level of 4/8 downwards. This makes falling to 3/8 highly probable. The scenario can be cancelled by a breakaway of 4/8 upwards, which will bring the quotations to the resistance level of 5/8.
On M15, a breakaway of the lower border of VoltyChannel will support further falling.
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