Murrey math lines: USD/JPY, USD/CAD
|USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI is in the overbought area. As a result, in this situation, the price is expected to break below the 6/8 (0.9033) level, falling to the support at 5/8 (0.8911). The scenario could be cancelled by rising above the resistance at 7/8 (0.9155). In this case, the pair might climb to the 8/8 (0.9277) level.
On M15, a breakout of the lower line of the VoltyChannel will increase the probability of a further price decline.
XAU/USD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, which indicates a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise to the nearest resistance at 8/8 (2250.00). The scenario could be cancelled by a breakout of the 7/8 (2187.50) level. In this case, Gold quotes might decline to the support at 6/8 (2125.00).
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a further price rise.
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.