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Murrey Math Lines 16.04.2020 (USDCHF, GOLD)

16.04.2020

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, there was a false breakout of 7/8. In this case, the price is expected to grow towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling to reach the support at 6/8.

GOLD_H4 april 16
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 8/8 from the H4 chart.

GOLD_M15 april 16
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 has rebounded from the strong resistance at 8/8. In this case, the price is expected to continue falling to reach 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may continue growing to return to 8/8.

GOLD_H4 april 16
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.

USDCHF_M15 april 16
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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