Murrey Math Lines 14.03.2024 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are in the overbought area on H4, while the RSI is nearing the resistance line. In this situation, a breakout of the 8/8 (0.8789) level is expected, followed by a decline to the support at 6/8 (0.8667). The scenario could be cancelled by a breakout of the resistance at +1/8 (0.8850), in which case the pair might rise to the +2/8 (0.8911) level.
On M15, the price decline could be additionally confirmed by a breakout of the lower boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has rebounded from the support line. In these circumstances, the quotes are expected to break the 6/8 (2187.50) level, rising to the resistance at 7/8 (2218.75). The scenario could be cancelled by a breakout of 5/8 (2156.25), in which case gold quotes might drop to the support at 3/8 (2093.75).
On M15, another breakout of the upper boundary of the VoltyChannel might increase the probability of price growth.
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.