Murrey Math Lines 13.05.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCH is no longer trading within the “oversold area”. In this case, the price is expected to break the resistance at 1/8 and continue the correction to reach 2/8. Still, this scenario may no longer be valid if the price rebounds from 1/8 to the downside. After that, the instrument may fall towards the support at 0/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from the support at 6/8 and resume growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards 5/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.
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