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Murrey Math Lines 29.03.2018 (USDCHF, GOLD)

29.03.2018

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 5/8 level, rebound from I, and then resume falling to reach the support at the 4/8 one.

USDCHF1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the H1 chart, the pair is trading inside the “overbought zone” above the 8/8 level. If the price breaks the 1/8 level, the instrument may resume moving downwards to reach the support at the 7/8 one.

USDCHF2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD may rebound from the 2/8 level and resume falling towards the support at the 0/8 one.

GOLD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The lines in the H4 and H1 charts are completely the same and confirm the scenario described above. However, the pair may yet test the resistance at the 3/8 level, rebound from it, and then resume moving downwards to reach the support at the 0/8 one.

GOLD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

RoboForex Analytical Department

 

Attention!

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


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