Murrey Math Lines 11.02.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a tendency reversal and a further decline. In this case, the price is expected to break 3/8 and then continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may grow to reach the resistance at 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue the descending tendency.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has rebounded from the 200-day Moving Average once again. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may continue growing towards 5/8.
In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
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