Analysis
Murrey Math Lines 16.03.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
On H4, USDCHF pair has broken through the 200-day Moving Average and is now above it, which indicates a possible bullish trend. The RSI is approaching the overbought area. In this situation we should ex…
USDCHF, “US Dollar vs Swiss Franc”
On H4, USDCHF pair has broken through the 200-day Moving Average and is now above it, which indicates a possible bullish trend. The RSI is approaching the overbought area. In this situation we should expect the price to test 5/8 (0.9338) and its further breakdown and increase to resistance level of 6/8 (0.9399). A break-down of the support at 4/8 (0.9277) will cancel this scenario. In this case the pair may fall to the 3/8 (0.9216).
On M15, the upper line of the VoltyChannel indicator has been broken. This event increases the probability of further price growth.
XAUUSD, “Gold vs US Dollar”
On H4, level 8/8 (1937.50) and broke away from it, which indicates a possible corrective decline in the price. Convergence is observed on the RSI, which is also a signal of drop in the price. As a result, the price is likely to break down the level of 6/8 (1906.25) and then fall to the support level 4/8 (1875.00). Overcoming resistance at 7/8 (1921.88) can cancel this scenario. If that happens, the price of gold might return to the 8/8 (1937.50).
On M15, a break-down of the bottom line of the VoltyChannel indicator will be an additional signal for the downside movement of the price.
