Murrey Math Lines 06.06.2024 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes have broken below the 200-day Moving Average on D1, indicating a potential downtrend. However, the RSI has reached the overbought area. As a result, in this situation, the price is expected to rebound from the 5/8 (0.8911) level and rise to the resistance at 6/8 (0.9033). A breakout below the 5/8 (0.8911) level could cancel this scenario, pushing the pair further down to the support at 4/8 (0.8789).
On M15, the price rise might be additionally supported by a breakout of the VoltyChannel upper line.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 3/8 (2375.00) level and rise further to the 4/8 (2500.00) resistance level. A rebound from the 3/8 (2375.00) level could cancel this scenario, leading to a potential decline to the 2/8 (2250.00) support level.
On M15, the upper line of the VoltyChannel is broken, which increases the probability of price growth.
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.