Murrey Math Lines 18.03.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 7/8 and then resume growing towards the resistance at +1/8. Still, this scenario may no longer be valid if the price breaks the support at 7/8 to the downside. After that, the instrument may move downwards to reach 6/8.
In the M15 chart, the pair may break 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 still consolidating between 3/8 and 4/8. In this case, the price is expected to break 4/8 and 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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