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Murrey Math Lines 11.03.2021 (USDCHF, GOLD)

11.03.2021

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading within the “overbought area. In this case, the price is expected to break 8/8 and then continue falling towards the support at 6/8. Still, this scenario may no longer be valid if the price break 1/8 to the upside. After that, the instrument may move upwards to reach the resistance at 2/8.

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.

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 back to consolidating between 3/8 and 4/8. In this case, the price is expected to test 4/8, break it, and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price falls and breaks the support at 3/8 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

As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may 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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