Murrey Math Lines 21.03.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rebound from the 5/8 (0.8850) level and rise to the resistance at 6/8 (0.8911). The scenario could be cancelled by breaking below the support at 4/8 (0.8789), which could lead to a trend reversal, pushing the pair down to 3/8 (0.8728).

On M15, the upper line of the VoltyChannel is too far away from the current price, so a rebound from the 5/8 (0.8850) level on H4 will signal a price rise.

XAUUSD, “Gold vs US Dollar”

Gold quotes are above the 200-day Moving Average on H4, which indicates a prevailing uptrend. The RSI has reached the overbought area. In this situation, the price is expected to test the 6/8 (2187.50) level and rebound from it, rising to the resistance at 8/8 (2250.00). The scenario could be cancelled by a breakout of the 6/8 (2187.50) level. In this case, Gold quotes might decline to the support at 4/8 (2125.00).

On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a further price rise.