Murrey Math Lines 24.03.2022 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 6/8. However, this scenario may be cancelled if the price breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.



In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.



XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is trading above the 200-day Moving Average, thus indicating a further ascending tendency. In this case, the price is expected to continue moving upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the downside. After that, the instrument may reverse and form a new descending wave towards 6/8.



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 trading upwards.



Source: Roboforex

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