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Murrey Math Lines 24.02.2022 (USDCHF, GOLD)

24.02.2022

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test 6/8, break it, and then continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks 7/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 8/8.

USDCHFH4
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 falling.

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 above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and move upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may reverse and correct down to 3/8.

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 pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

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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