Murrey Math Lines 13.06.2024 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the resistance line. In this situation, the price is expected to break above the 6/8 (0.9033) level and rise further to the 7/8 (0.9155) resistance level. A breakout of the 5/8 (0.8911) level could cancel this scenario, leading to a potential trend reversal and a decline to the 4/8 (0.8789) support level.
On M15, a breakout above the upper line of the VoltyChannel would provide an additional signal supporting the price increase.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the resistance line. In this situation, the price is expected to test the 3/8 (2375.00) level, break above it, and rise further to the 4/8 (2500.00) resistance level. A rebound from the 2/8 (2250.00) level could cancel this scenario, leading to a potential decline to the 1/8 (2125.00) level.
On M15, a breakout above the VoltyChannel upper line will increase the probability of a price rise.
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.