Murrey Math Lines 25.01.2024 (USDCHF, XAUUSD)

USDCHF, "US Dollar vs Swiss Franc"

USDCHF quotes are above the 200-day Moving Average on H4, revealing the probability of an uptrend development. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 6/8 (0.8667) and reach the resistance at 7/8 (0.8728). The scenario could be cancelled by a downward breakout of the support at 5/8 (0.8606). In this case, the pair might drop to the 4/8 (0.8544) level.

On M15, the growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.

XAUUSD, "Gold vs US Dollar"

Gold quotes and the RSI are approaching their oversold areas. In this situation, a test of 0/8 (2000.00) is expected, followed by a rebound from this level and a rise to the resistance at 2/8 (2031.25). The scenario could be ancelled by a downward breakout of the support at 0/8 (2000.00), which could entail a price decline to the -1/8 (1984.38) level.

On M15, after a rebound from 0/8 (2000.00) on H4, the growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.