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Murrey Math Lines 05.05.2022 USDCHF, GOLD

05.05.2022USDCHF, US Dollar vs Swiss FrancIn the H4 chart, after breaking 88 and leaving the overbought area, USDCHF is expected to break 78 and continue falling to reach the support at 58. However, this scenario may be cancelled if the price breaks the resistance at 88 to the upside. After that, the instrument may reverse and return to 18.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.XAUUSD, Gold vs US DollarIn the H4 chart, XAUUSD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 28, rebound from it, and then resume moving downwards to reach the support at 08. However, this scenario may no longer be valid if the price breaks the resistance at 28 to the upside. After that, the instrument may reverse and grow towards 38.As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume trading downwards only after rebounding from 28 in 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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