Murrey Math Lines 17.11.2022 (USDCHF, GOLD)

By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI are nearing the resistance line. Currently, we should expect a test of 1/8 (0.9399), a breakaway of it, and falling to the support level of 0/8 (0.9277). The scenario can be cancelled by rising over the resistance level of 2/8 (0.9521). In this case, the pair may rise to 3/8 (0.9643).

On M15, an additional signal confirming the decline will be a breakaway of the lower line of VoltyChannel.

XAUUSD, “Gold vs US Dollar”

On H4, the quotes are in the overbought area. The RSI has broken through the support line. Currently, we expect a test of 0/8 (1750.00), a breakaway of it, and falling to the support level of 7/8 (1718.75). The scenario can be cancelled by rising over the resistance of +1/8 (1781.25). This event might lead to further growth of the quotes to +2/8 (1812.50).

On M15, the lower line of VoltyChannel is broken, which increases the chances for further falling of the price.

Article By RoboForex.com

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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.