Murrey Math Lines 29.12.2022 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
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. Further falling to the nearest support at 3/8 (0.9155) is expected. The scenario can be cancelled by an upward breakaway of 4/8 (0.9277). In this case, the pair may reach 5/8 (0.9399).
On M15, the lower line of VoltyChannel is broken, which confirms a downtrend and increases the probability of further price falling.
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 bounced off the support line. As a result, the quotes are expected to rise above 6/8 (1812.50) and grow to the resistance level of 7/8 (1843.75). The scenario can be cancelled by a downwards breakaway of the support level of 5/8 (1781.25). This might lead to falling of the price to 4/8 (1750.00).
On M15, an additional signal confirming growth will he a breakaway of the upper border of VoltyChannel.
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.
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