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Murrey Math Lines 09.12.2021 USDCHF, GOLD

09.12.2021USDCHF, US Dollar vs Swiss FrancIn the H4 chart, after breaking the 200day Moving Average again, USDCHF is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 68, break it, and then continue falling to reach the support at 58. However, this scenario may be cancelled if the price breaks the resistance at 78 to the upside. After that, the instrument may head towards the overbought area and reach 88.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 trading downwards.XAUUSD, Gold vs US DollarAs we can see in the H4 chart, XAUUSD is trading below the 200day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to break 28 and then move downwards to reach the support at 08. However, this scenario may no longer be valid if the price breaks the resistance at 38 to the upside. After that, the instrument may reverse and grow towards the next 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.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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