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Murrey Math Lines 05.08.2021 (USDCHF, XAUUSD)

05.08.2021

USDCHF, "US Dollar vs Swiss Franc"

On H4, the quotations have escaped the oversold area and are trading above 1/8. We currently expect them to test the resistance level of 2/8, break through it, and then grow to 3/8. The scenario can be cancelled by a breakaway of 1/8 downwards. In this case, the quotations will resume falling, and the price might return to 0/8.

USDCHFH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper border of VoltyChannel is broken away, which increases the chances for further growth of the price.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, "Gold vs US Dollar"

On H4, the quotations keep trading in a consolidation range between 3/8 and 5/8. Yesterday they broke through the support level of 4/8 downwards. This makes falling to 3/8 highly probable. The scenario can be cancelled by a breakaway of 4/8 upwards, which will bring the quotations to the resistance level of 5/8.

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

On M15, a breakaway of the lower border of VoltyChannel will support further 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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