Murrey Math Lines 30.07.2020 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is moving below 3/8. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue the correction towards the resistance at 3/8.
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 the descending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is moving above 5/8. In this case, the price is expected to break 7/8 and then continue growing to reach the 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 continue falling towards the support at 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.
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