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Murrey Math Lines 29.07.2021 USDCHF, GOLD

29.07.2021USDCHF, US Dollar vs Swiss FrancIn the H4 chart, after breaking the 200day Moving Average, USDCHF is trading below it, thus indicating a descending tendency. In this case, the price is expected to break 58 and then continue falling to reach the support at 48. Still, this scenario may no longer be valid if the price breaks 68 to the upside. After that, the instrument may reverse and grow towards the resistance at 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.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 58, break it, and then continue moving upwards to reach the resistance at 68. However, this scenario may no longer be valid if the price breaks 48 to the downside. After that, the instrument may reverse and fall towards the support at 38.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 moving upwards to reach 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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