Murrey Math Lines 18.11.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is trading within the “overbought area”. In this case, the price is expected to test break 8/8 and then continue falling to reach the support at 7/8. However, this scenario may be cancelled if the price breaks the resistance at +1/8 to the upside. After that, the instrument may continue growing towards +2/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then correct downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing towards +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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