Murrey Math Lines 16.04.2020 (USDCHF, GOLD)
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has rebounded from the strong resistance at 8/8. In this case, the price is expected to continue falling to reach 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may continue growing to return to 8/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, there was a false breakout of 7/8. In this case, the price is expected to grow towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. 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, may continue the ascending tendency towards 8/8 from the H4 chart.
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