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Murrey Math Lines 10.03.2022 (USDCHF, GOLD)

10.03.2022

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 6/8. However, this scenario may be cancelled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.

BRENTH4
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 growing.

BRENT_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 8/8, XAUUSD is no longer trading within the “overbought area”. In this case, the price is expected to continue moving downwards to reach the closest support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and form one more ascending wave towards 1/8.

S&P 500_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, continue trading downwards.

S&P 500_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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