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Murrey Math Lines 06.02.2020 (USDCHF, GOLD)

06.02.2020

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading near the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling towards the support at 5/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 5/8 from the H4 chart.

USDCHF_H1
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, after rebounding from the resistance at 3/8, XAUUSD is moving below 2/8. In this case, the price is expected to 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 growing towards the resistance at 3/8.

GOLD_H4
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 the descending tendency towards 0/8 from the H4 chart.

GOLD_H1
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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