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Murrey Math Lines 12.11.2020 (USDCHF, GOLD)

12.11.2020

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 5/8 and then continue growing to reach the resistance at 7/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and correct towards the support at 3/8.

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.

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, after breaking the 200-day Moving Average, XAUUSD is moving below it, thus indicating a descending tendency. However, right now, the asset is moving inside the “oversold area”. In this case, the price is expected to break 0/8 upwards and correct to reach the resistance at 1/8. However, this scenario may no longer be valid if the price breaks the support at -1/8 to the downside. After that, the instrument may continue falling towards -2/8.

XAUUSD_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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

XAUUSD_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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