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Murrey Math Lines 23.09.2021 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is trading not far from the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may be cancelled if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at 1/8.

Murrey Math Lines 23.09.2021 USDCHFH4
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 downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from 8/8 from the H4 chart.

Murrey Math Lines 23.09.2021 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 trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 4/8, break it, and then continue moving downwards to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8 to the upside. After that, the instrument may reverse and grow towards 6/8.

Murrey Math Lines 23.09.2021 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 its decline.

Murrey Math Lines 23.09.2021 XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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