Murrey Math Lines 14.05.2020 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, XAUUSD is moving above 5/8. In this case, the price is expected to grow towards 8/8. Later, the price may break this level and then continue trading upwards with the target at +1/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue falling to reach the support at 6/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is also moving above 5/8. In this case, the price is expected to break 7/8 and then continue growing to reach the closest resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 6/8 to the downside. After that, the instrument may fall to return to 5/8.
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 trading upwards to reach 8/8 from the H4 chart.
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