Murrey Math Lines 30.01.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is consolidating between 3/8 and 5/8. In this case, the price is expected to break 4/8 and continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling to reach the support at 5/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 5/8 from the H4 chart.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is moving upwards. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue growing towards the support at 1/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency towards 4/8 from the H4 chart.