Murrey Math Lines 11.11.2021 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotations previously bounced off the upper border of the consolidation range and are now trading above 6/8. We should expect a test of the resistance level of 7/8, a breakaway through it, and growth to 8/8. The scenario can be canceled by a breakaway of the support level of 6/8. In this case, the pair can return to 5/8.
On M15, the upper line of VoltyChannel is broken. This makes further growth of the price more possible.
XAUUSD, “Gold vs US Dollar”
On H4, the quotations are trading above 200-days Moving Average, which means the prevailing of an uptrend. In this case, we expect a bounce off 6/8 and further growth to the resistance level of 8/8. The scenario can be canceled by a breakaway of 6/8 downwards. This might provoke further falling to the support level of 5/8.
On M15, the upper border of VoltyChannel is broken, which means an uptrend and a high probability of further price growth.
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