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Murrey Math Lines 04.03.2021 (USDCHF, GOLD)

04.03.2021

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing towards the resistance at 8/8. Still, this scenario may no longer be valid if the price break 6/8 to the downside. After that, the instrument may correct downwards to reach the support 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 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, XAUUSD is trading inside the “oversold area”. In this case, the price is expected to break -1/8 and then continue growing to reach the resistance at 1/8. However, this scenario may no longer be valid if the price falls and breaks -2/8 to the downside. After that, the lines in the chart will be redrawn, thus helping us to define new targets.

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 upside line of the VoltyChannel indicator and, as a result, continue growing.

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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