Murrey Math Lines 08.12.2022 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of the downtrend. The RSI is testing the resistance line. A downward breakaway of the support level of 1/8 (0.9399) should be expected, followed by falling to 0/8 (0.9277). The scenario can be cancelled by rising over 2/8 (0.9521). In this case, the pair may rise to 3/8 (0.9643).
On M15, a breakaway of the lower line of VoltyChannel will increase the probability of price falling to 0/8 (0.9277) on H4.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes remain in the overbought area. The RSI has bounced off the resistance line. A breakaway downwards of +1/8 (1781.25) is expected, followed by falling to the support level of 8/8 (1750.00). The scenario can be cancelled by rising over the resistance level of +2/8 (1812.50). This will lead to reshuffling of Murray lines, after which new goals of growth will be set.
On M15, an additional signal confirming the decline will be a downward breakaway of the lower border of VoltyChannel.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.