Murrey Math Lines 21.01.2021 (USDCHF, GOLD)
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 3/8 and then continue falling to reach the support at 1/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is consolidating. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance not far from the upside border of the range at 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the downside. After that, the instrument may continue falling towards the support at 2/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.