Murrey Math Lines 28.09.2023 (USDCHF, XAUUSD)

By RoboForex.com

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has reached the oversold area. In this situation, the price is expected to test the 8/8 (0.9277) level, rebound from it, and drop to the support at 6/8 (0.9155). The scenario can be cancelled by breaking the 8/8 (0.9277) level. In this case, the quotes could reach the resistance at +1/8 (0.9334).

On M15, following a rebound from the 8/8 (0.9277) level on H4, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.

XAUUSD, “Gold vs US Dollar”

Gold quotes and the RSI are in the oversold area. In such circumstances, the quotes are expected to surpass the 0/8 (1875.00) level, rising to the resistance at 2/8 (1890.62). The scenario can be cancelled by a downward breakout of the -1/8 (1867.19) level, which will send the quotes down to the support at -2/8 (1859.38).

On M15, the upper line of the VoltyChannel is too far from the current price so the price rise could be supported by breaking the 0/8 (1875.00) level on H4.

Article By RoboForex.com

Attention!
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.