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Murrey Math Lines 20.08.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after leaving the “oversold area”, USDCHF is moving at 2/8. In this case, the price is expected to break this level and then continue growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling towards the support at 0/8.

Murrey Math Lines 20.08.2020 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, continue the ascending tendency.

Murrey Math Lines 20.08.2020 USDCHF_M15
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 is moving not far from 7/8. In this case, the price is expected to break this level and continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.

Murrey Math Lines 20.08.2020 XAUUSD_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 trading downwards to reach 6/8 from the H4 chart.

Murrey Math Lines 20.08.2020 XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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