Murrey math lines: USD/CHF, XAU/USD

RoboForex Team RoboForex

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF quotes are on the 200-day Moving Average on H4, which reveals the lack of any trend. However, a convergence has formed on the RSI, signaling about a possible price rise. As a result, the quotes are expected to break the 6/8 (0.8667) level and reach the resistance at 7/8 (0.8728). The scenario could be cancelled by a downward breakout of the support at 5/8 (0.8606). In this case, the quotes could drop to 4/8 (0.8544).

On M15, the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.

XAU/USD, “Gold vs US Dollar”

Gold quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support line In this situation, the quotes are expected to rise above 3/8 (2046.88) and proceed to the resistance at 4/8 (2062.50). The scenario could be cancelled by a downward breakout of he support at 2/8 (2031.25), which could lead to a price decline to 1/8 (2015.62).

On M5, a breakout of the upper boundary of the VoltyChannel can increase the probability of a price rise.

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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.

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