Murrey Math Lines 02.11.2023 (USDCHF, XAUUSD)

USDCHF, "US Dollar vs Swiss Franc"

USDCHF quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, a rebound from 4/8 (0.9033) is expected, followed by a price rise to the resistance at 6/8 (0.9155). The scenario can be cancelled by a downwards breakout of 4/8 (0.9033). In this case, the pair could drop to the support at 3/8 (0.8977).

On M15, the upper boundary of the VoltyChannel is too far from the current price, so the rise could be supported by a rebound from the 4/8 (0.9033) level on H4.

XAUUSD, "Gold vs US Dollar"

Gold quotes have escaped the oversold area on H4 but continues trading between 7/8 (1968.75) and 8/8 (2000.00). The RSI is approaching the resistance line. In this situation, a test of 8/8 (2000.00) is expected, followed by rebound from this level and a decline to the support at 6/8 (1937.50). The scenario can be cancelled by rising above 8/8 (2000.00). In this case, the quotes could reach the resistance at +1/8 (2031.25).

On M15, after a rebound from 8/8 (2000.00), the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.