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Murrey Math Lines 11.02.2021 (USDCHF, GOLD)

11.02.2021

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a tendency reversal and a further decline. In this case, the price is expected to break 3/8 and then continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may grow to reach the resistance 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 downside line of the VoltyChannel indicator and, as a result, may continue the descending 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, XAUUSD has rebounded from the 200-day Moving Average once again. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may continue growing towards 5/8.

XAUUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue falling.

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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