Murrey Math Lines 09.02.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI is testing the support level. A downward breakaway of 2/8 (0.9155) is expected, followed by falling to the support level of 1/8 (0.9094). The scenario can be cancelled by rising over the resistance level of 3/8 (0.9216). In this case, the pair may rise to 4/8 (0.9277).
On M15, the lower line of VoltyChannel is broken away, which confirms presence of a downtrend and increases the probability of further price falling.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are on the 200-day Moving Average. In such a situation, the preceding uptrend remains prevailing. The RSI has bounced off the support level and continues going up. A test of 5/8 (1906.25) is expected, followed by a breakaway and growth to the resistance level of 6/8 (1937.50). The scenario can be cancelled by a downward breakaway of the support level of 3/8 (1843.75), which will make the trend reverse and make the quotes fall to 2/8 (1812.50).
On M15, further growth of the quotes can be supported by a breakaway of the upper border of VoltyChannel.
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