Murrey Math Lines 19.01.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are under the 200-day Moving Average, which indicates a downtrend. The RSI has bounced off the resistance line. As a result, a downward breakaway of 2/8 (0.9155) is expected, from where the pair is to fall to the support level of 0/8 (0.9033). The scenario can be cancelled by an upward breakaway of 3/8 (0.9216). In this case, the pair might rise to the resistance level of 4/8 (0.9277).
On M15, the lower line of VoltyChannel is broken away. This increases the probability of further price falling.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating prevalence of an uptrend. The RSI is nearing the support level. As a result, a bounce off 5/8 (1906.25) should be expected, followed by growth to the resistance level of 6/8 (1937.50). The scenario can be cancelled by a downward breakaway of the support level of 4/8 (1875.50). This might lead to falling to 3/8 (1843.75).
On M15, growth can be additionally supported by a breakaway of the upper 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.