Murrey Math Lines 23.11.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes and the RSI are approaching the overbought areas on H4. In this situation, the price is expected to test the 0/8 (0.8789) level, rebound from it, and rise to the resistance at 2/8 (0.8911). The scenario can be cancelled by a downward breakout of the 0/8 (0.8789) level. In this case, the quotes could drop to the support at -1/8 (0.8728).
On M15, following a rebound from 0/8 (0.8789), the price rise could be additionally supported by a breakout of the upper line of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes have reached the overbought area on H4. The RSI is testing the support level. In such circumstances, the quotes are expected to rebound from the 8/8 (2000.00) level and decline to the support at 7/8 (1968.75). The scenario can be cancelled by surpassing the 8/8 (2000.00) level. In this case, the gold price might rise to the resistance at +1/8 (2031.25).
On M15, the price rise could be additionally supported by a breakout of the lower line of the 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.