Murrey Math Lines 29.08.2019 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is no longer moving inside the “oversold area”. In this case, the pair may break 1/8 and continue growing towards the resistance at 3/8. However, as long as the price is trading below 1/8, the instrument is expected to continue falling towards -2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is still moving upwards; right now, it is trading inside the “overbought area”. In this case, the price is expected to test +2/8, rebound from it, and then resume falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks +2/8. After that, the levels on the chart will be redrawn.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, start a correction towards the support at 7/8 from the H4 chart.
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