Murrey math lines: USD/CHF, XAU/USD
|USD/CHF, “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.
XAU/USD, “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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.