Murrey math lines USDCHF, XAUUSD
USD/CHF, “US Dollar vs Swiss Franc”
On H4, the USDCHF quotes are above the 200-day Moving Average, revealing prevalence of an uptrend. The RSI is testing the support line. In this situation, a rebound from 6/8 (0.9399) should be expected, after which the price might rise to the resistance level of 8/8 (0.9521). The scenario can be cancelled by a downward breakaway of the support level at 5/8 (0.9338), in which case the pair might fall to 4/8 (0.9277).
On M15, a breakaway of the upper line of the VoltyChannel indicator will increase the probability of further growth of the price.
XAU/USD, “Gold vs US Dollar”
On H4, gold quotes have reached the oversold area and are now testing the support level of 0/8 (1812.50). The RSI has pushed off 30, which is the upper border of the oversold area. As a result, the quotes are now expected to break through 1/8 (1828.12) and grow to the resistance level of 2/8 (1843.75). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (1812.50). In this case, the decline of gold quotes will continue, and the price might drop to -1/8 (1796.88).
On M15, the growth of the price can be additionally supported by a breakaway of the upper line of the VoltyChannel indicator.
