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Murrey Math Lines 30.05.2019 (USDCHF, GOLD)

30.05.2019

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after reaching its downside targets specified a weak earlier, USDCHF has been corrected towards the 3/8 level. In this case, the price may break the 2/8 level and then continue falling to reach the support at the 0/8 level. However, this scenario may no longer be valid if the instrument breaks the 3/8 level. After that, the pair may resume trading upwards to reach the resistance at the 5/8 level.

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

In the H1 chart, the pair is consolidating. If the price breaks the 3/8 level, the instrument may resume falling to reach the support at the 0/8 one.

USDCHF2
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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

USDCHF3
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 consolidating. On May 13th, there was a quick rising impulse that stopped at the 6/8 level. In this case, there was a possibility of a new descending movement and, indeed, the price plummeted towards the 3/8 level, but later formed another correction to reach the resistance at the 5/8 one. As a result, we saw the first descending wave along with the correction. In the future, the descending tendency may continue. After the instrument breaks the 3/8 level, it may continue trading downwards to reach the support at the 1/8 one. However, this scenario may no longer be valid if the instrument breaks the 5/8 level. After that, the pair may resume trading upwards to reach the resistance at the 7/8 level.

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

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 moving downwards.

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

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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