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Murrey Math Lines 09.09.2021 USDCHF, GOLD

09.09.2021USDCHF, US Dollar vs Swiss FrancIn the H4 chart, USDCHF 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 growing to reach the resistance at 78. However, this scenario may be cancelled if the price breaks 58 to the downside. After that, the instrument may correct towards the support at 48.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 its growth.XAUUSD, Gold vs US DollarIn the H4 chart, after breaking the 200day Moving Average, XAUUSD is trading below it, thus indicating a descending tendency. In this case, the price is expected to break 58 and then continue moving downwards to reach the support at 48. However, this scenario may no longer be valid if the price breaks the resistance at 68 to the upside. After that, the instrument may reverse and grow towards 78.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 towards 48 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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