Murrey Math Lines 15.12.2022 (USDCHF, XAUUSD)

By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are in the oversold area. The RSI has bounced off the support line. An upwards breakaway of 0/8 (0.9277) is expected, followed by growth to the resistance level of 2/8 (0.9521). The scenario can be cancelled by a downward breakaway of the support level of -1/8 (0.9155). In this case, the quotes may go on falling and reach -2/8 (0.9033).

On M15, growth can be supported by a breakaway of the upper border of VoltyChannel.

XAUUSD, “Gold vs US Dollar”

On H4, gold quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In the end, a test of 5/8 (1781.25) is expected, followed by a bounce off it and growth to the resistance level of 6/8 (1812.50). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1781.25). In this case, gold quotes may drop to 4/8 (1750.00).

On M15, the upper line of VoltyChannel is too far away from the current price, hence, growth will be supported by a bounce off 5/8 (1781.25) on H4.

Article By RoboForex.com

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