Murrey Math Lines 22.09.2022 (USDCHF, GOLD)

September 22, 2022

Article By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. The Relative Strength Index is testing the ascending trendline. In this case, the pair is expected to rebound from 6/8 (0.9643), and then resume growing towards the resistance at 8/8 (0.9765). However, this scenario may be cancelled if the price breaks the support at 6/8 (0.9643) to the downside. After that, the instrument may move downwards to reach 5/8 (0.9582).

USDCHFH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. The Relative Strength Index has broken the ascending trendline downwards, which is another signal in favour of a further downtrend. In this case, the price is expected to break 5/8 (1656.25) and continue moving downwards to reach the support at 4/8 (1625.00). However, this scenario may no longer be valid if the price breaks the resistance at 6/8 (1687.50) to the upside. After that, the instrument may reverse and resume growing towards 7/8 (1718.75).

XAUUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

XAUUSD_M15

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.