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Murrey Math Lines 01.09.2022 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the pair is expected to test 8/8, break it, and the continue falling towards the support at 7/8. However, this scenario may be cancelled if the price breaks the resistance at 1/8 to the upside. After that, the instrument may move upwards to reach 2/8.

Murrey Math Lines 01.09.2022 USDCHF
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 its decline.

Murrey Math Lines 01.09.2022 USDCHF
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 6/8, break it, and then continue moving downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may reverse and resume growing towards 8/8.

Murrey Math Lines 01.09.2022 Gold
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 01.09.2022 Gold_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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