Murrey Math Lines 16.02.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has bounced off the resistance line. A breakaway of 3/8 (0.9216) should be expected, followed by falling to the support level of 2/8 (0.9155). The scenario can be cancelled by rising above the resistance level of 4/8 (0.9277), which might lead to a trend reversal and growth to 5/8 (0.9338).
On M15, falling should be supported by a breakaway of the lower border of VoltyChannel.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has bounced off the resistance line. A breakaway of 1/8 (1828.12) should be expected, followed by falling to the support level of 0/8 (1812.50). The scenario can be cancelled by rising above the resistance level of 2/8 (1843.75), in which case gold quotes might correct to 4/8 (1875.50).
On M15, the lower line of VoltyChannel is broken away, confirming the downtrend and increasing the probability of further decline.
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