Murrey Math Lines 02.03.2023 (USDCHF, XAUUSD)

By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are above the 200-day Moving Average, revealing prevalence of an uptrend. The RSI has bounced off the support level. The quotes should now rise above the resistance level of 7/8 (0.9460) and grow to 8/8 (0.9521). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (0.9399). In this case, the pair may drop to 4/8 (0.9277).

On M15, the upper line of VoltyChannel is broken away, which increases the probabilitt of further growth.

XAUUSD, “Gold vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has bounced off the resistance line. As a result, a downward breakaway of 1/8 (1828.12) is expected, followed by falling to the support level of -1/8 (1796.88). The scenario can be cancelled by an upward breakaway of the resistance level of 2/8 (1843.75). In this case, the quotes might rise to 4/8 (1875.50).

On M15, further falling of the price can be supported by a breakaway of the lower border of VoltyChannel.

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.