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Murrey Math Lines 06.05.2021 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCH is trading within the downtrend. After failing to break 1/8, the asset is moving very close to the resistance at 2/8. If bulls manage to break the latter level, the price may continue trading upwards to reach 3/8. Still, this scenario may no longer be valid if the price returns to 1/8 and breaks it to the downside. After that, the instrument may fall towards the support at 0/8.

Murrey Math Lines 06.05.2021 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 upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

Murrey Math Lines 06.05.2021 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 still trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 once again and continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and fall towards the support at 3/8.

Murrey Math Lines 06.05.2021 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 pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.

Murrey Math Lines 06.05.2021 XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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