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Murrey Math Lines 02.09.2021 USDCHF, GOLD

02.09.2021USDCHF, US Dollar vs Swiss FrancAs we can see in the H4 chart, USDCHF is consolidating between 38 and 58. In this case, the price is expected to rebound from 48 and then resume falling to break the support at 38. After that, the asset may continue moving downwards to reach the next support at 28. However, this scenario may be cancelled if the price breaks 48 to the upside. After that, the instrument may reverse and grow towards the resistance at 58.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.XAUUSD, Gold vs US DollarAs we can see in the H4 chart, XAUUSD is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 68 and then continue moving upwards to reach the resistance at 78. However, this scenario may no longer be valid if the price breaks the support at 58 to the downside. After that, the instrument may reverse and fall towards 48.In the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume the ascending tendency only after breaking 68 from the H4 chart.Back to listAttention!Forecasts presented in this section only reflect the authors 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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