Murrey math lines: USD/CHF, XAU/USD
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is testing the support line. In this situation, further growth to the nearest resistance level of 7/8 (0.8972) is expected. The scenario can be cancelled by a downward breakout of the 6/8 (0.8911) level. In this case, the quotes could drop to the support at 5/8 (0.8850).
On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAU/USD, “Gold vs US Dollar”
Gold quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the resistance line. Currently, a downward breakout of 2/8 (1906.25) is expected, followed by a decline to the support at 1/8 (1890.62). The scenario can be cancelled by a rebound from the 2/8 (1906.25) level. In this case, gold quotes might rise to the resistance at 3/8 (1921.88).
On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of a further price decline.
Author
RoboForex Team
RoboForex
RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.
