Murrey Math Lines 30.03.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, USDCHF are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI have rebounded from the resistance line. In this situation, we should expect the price to test the level of 2/8 (0.9155), break it, and fall to the support at 1/8 (0.9094). The scenario can be canceled if the price rises above the resistance at 3/8 (0.9216). In this case, the pair could grow to 4/8 (0.9277).
On M15, price falling can be additionally supported by breaking the lower line of the VoltyChannel indicator.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. As a result, in such circumstances we expect the price to break the level of 7/8 (1968.75) upwards and then grow to the resistance level of +1/8 (2031.25). The scenario can be canceled by a downwards breakaway of the support at 6/8 (1937.50). In this case, gold quotes could correct to 5/8 (1906.25).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of further growth of the price.
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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