Murrey Math Lines 10.06.2021 (USDCHF, GOLD)

June 10, 2021

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCH has rebounded from 1/8, thus indicating a possible ascending correction. In this case, the price is expected to break 2/8 and then continue growing to reach the resistance at 3/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may fall towards the support at 0/8.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.


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USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is still trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and continue growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and correct towards 3/8.

XAUUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 6/8 from the H4 chart.

XAUUSD_M15

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.