Murrey Math Lines 13.04.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, USDCHF quotes are in the oversold area. The RSI has broken the resistance line. A breakout of -1/8 (0.8972) and growth of the price to the resistance at 1/8 (0.9094) are to be expected. The scenario can be canceled by a downward breakout of the support at -2/8 (0.8911), which will reshuffle the Murray grid so that new targets will be set.
On M15, price growth can additionally be supported by a breakout of the upper line of the VoltyChannel indicator.
XAUUSD, “Gold vs US Dollar”
On H4, gold quotes remain in the overbought area. The RSI is nearing the resistance line. In this situation, the price is expected to break 8/8 (2000.00) downwards and drop to the support at 7/8 (1968.75). The scenario can be canceled by rising above the resistance at +1/8 (2031.25). In this case, gold quotes may rise to +2/8 (2062.50).
On M15, a breakout of the lower border of VoltyChannel will increase the probability of further price falling.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.