Murrey Math Lines 03.11.2022 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are above the 200-day Moving Average, which means the prevalence of an uptrend. The RSI has bounced off the support line and is going up gradually. Here we expect growth of the quotes to the nearest resistance level of 3/8 (1.0131). The scenario can be cancelled by a breakaway of the support level of 2/8 (1.0009) downwards. In this case, the pair may drop to 1/8 (0.9887).
On M15, the upper line of the VoltyChannel is broken away. This increases the probability of price growth to 3/8 (1.0131) on H4.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which means a downtrend. The RSI has bounced off the resistance line. Now we expect a test of 0/8 (1625.00), a breakaway, and falling to the support level of -1/8 (1609.38). The scenario can be cancelled by a breakaway of 2/8 (1656.25) upwards. This can make the quotes grow to 3/8 (1671.88).
On M15, the lower line of VoltyChannel is broken away, increasing 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. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.