Murrey Math Lines 10.03.2022 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 6/8. However, this scenario may be cancelled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, after breaking 8/8, XAUUSD is no longer trading within the “overbought area”. In this case, the price is expected to continue moving downwards to reach the closest support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and form one more ascending wave towards +1/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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