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Murrey Math Lines 19.03.2020 (USDCHF, GOLD)

19.03.2020

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading above 5/8. In this case, the price is expected to continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling to reach the support at 5/8.

USDCHF_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 upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency towards 1/8 from the H4 chart.

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 trading inside the “oversold area”. In this case, the price is expected to break 0/8 and then continue growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks -2/8 to the downside. After that, the lines in the chart will be redrawn.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the VoltyChannel indicator confirms only the second scenario, which implies further decline, because the indicator’s downside border has been broken, while the upside one is quite far away. Under these circumstances, we should follow the H4 chart.

GOLD_M15
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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