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Murrey Math Lines 22.07.2021 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see 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 test 6/8, rebound from it, and then resume growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards the support at 5/8.

Murrey Math Lines 22.07.2021 USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 6/8 from the H4 chart.

Murrey Math Lines 22.07.2021 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, after breaking the 200-day Moving Average, XAUUSD is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and then continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and grow towards 3/8.

Murrey Math Lines 22.07.2021 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 downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

Murrey Math Lines 22.07.2021 XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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