Murrey Math Lines 23.05.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes on the D1 period are above the 200-day Moving Average, indicating the prevailing upward trend. The Relative Strength Index has overcome the resistance line. In this situation, we expect the 7/8 (0.9155) level to be surpassed, followed by a price increase to the resistance at 8/8 (0.9277). The scenario could be invalidated by a breakout of the 6/8 (0.9033) support level. In this case, the price may decline to 5/8 (0.8911).

In the M15 period, the upper line of the VoltyChannel indicator was breached, confirming the upward trend, and increasing the likelihood of further price growth.

XAUUSD, “Gold vs US Dollar”

XAUUSD quotes on the D1 are above the 200-day Moving Average, indicating the prevailing upward trend. However, there is a divergence in the Relative Strength Index indicator. Consequently, a 3/8 (2375.00) breakout is anticipated in this situation, leading to a subsequent price decline to the support at 2/8 (2250.00). A breakout above the 3/8 (2375.00) could nullify the scenario, with the quotes potentially reaching the 4/8 (2500.00) resistance level.

On M15, a breach of the VoltyChannel lower line will increase the likelihood of a price decline.