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Murrey Math Lines 24.12.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating a descending tendency; a rebound from 2/8 earlier is another signal in favor of further decline. In this case, the price is expected to continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 3/8.

Murrey Math Lines 24.12.2020 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 the descending tendency.

Murrey Math Lines 24.12.2020 USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the 200-day Moving Average has been broken, thus reversing the tendency to the upside. In this case, the price is expected to continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may continue falling towards 2/8.

Murrey Math Lines 24.12.2020 GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the price may break the upside line of the VoltyChannel indicator again and, as a result, may continue growing to reach 5/8 from the H4 chart.

Murrey Math Lines 24.12.2020 GOLD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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