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Murrey Math Lines for 12.08.2021 USDCHF, GOLD

12.08.2021USDCHF, US Dollar vs Swiss FrancOn H4, the quotations are trading above the 200days Moving Average, which indicates the prevalence of an uptrend. We expect a test of 58, a bounce off it, and further growth to the resistance level of 78. The scenario will be cancelled if 58 is broken away downwards. In this case, the quotations might continue falling and reach the support level of 48.On M15, price growth will be further supported by a breakaway of the upper VoltyChannel line.XAUUSD, Gold vs US DollarOn H4, the quotations remain inside a consolidation range between 38 and 58. We can now see a breakaway of 48 upwards. This makes growth to the resistance level of 58 highly probable. The scenario will be cancelled if the price returns under 48. In this case, the price might fall to the support level of 38.On M15, the upper line of VoltyChannel is broken. This makes further price growth more probable.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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