Murrey Math Lines 02.02.2023 (USDCHF, XAUUSD)

By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are nearing the oversold area, while the RSI has already got to its own. As a result, a test of 0/8 (0.9033) is expected, followed by a bounce off it and growth to the resistance level of 2/8 (0.9155). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (0.9033). In this case, the pair may keep falling, and the quotes might drop to -1/8 (0.8972).

On M15, the upper line of VoltyChannel is too far away from the current price, so growth of the quotes can only be marked by a bounce off 0/8 (0.9033) on H4.

XAUUSD, “Gold vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has broken through the resistance line. So, the quotes are expected to rise above 7/8 (1968.75) and grow as far as the resistance level of 8/8 (2000.00). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1937.50). This might bring the quotes down to 4/8 (1875.50).

On M15, the upper line of VoltyChannel is broken away, which means an uptrend and high probability of further growth of the quotes.

Article By RoboForex.com

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