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Murrey Math Lines 21.10.2021 USDCHF, GOLD

21.10.2021USDCHF, US Dollar vs Swiss FrancIn the H4 chart, after breaking the 200day Moving Average, 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 78 to the upside. After that, the instrument may continue growing towards the resistance 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 DollarIn the H4 chart, after breaking the 200day Moving Average, XAUUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 38, break it, and then continue moving upwards to reach the resistance at 48. However, this scenario may no longer be valid if the price breaks the support at 28 to the downside. After that, the instrument may reverse and fall towards 18.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.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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