Murrey Math Lines 11.03.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading within the “overbought area. In this case, the price is expected to break 8/8 and then continue falling towards the support at 6/8. Still, this scenario may no longer be valid if the price break +1/8 to the upside. After that, the instrument may move upwards to reach the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is back to consolidating between 3/8 and 4/8. In this case, the price is expected to test 4/8, break it, and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price falls and breaks the support at 3/8 to the downside. After that, the instrument may continue falling towards 2/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.
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