Murrey Math Lines 22.09.2022 (USDCHF, GOLD)

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).

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

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).

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

Article By RoboForex.com

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