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Murrey Math Lines 27.10.2022 (USDCHF, XAUUSD)

27.10.2022

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes have broken through the 200-day Moving Average and are now below it, which indicates possible development of a downtrend. However, the RSI is nearing the oversold area. As a result, we should expect a decline to the nearest support at 4/8 (0.9765), after which correctional growth might begin. The scenario can be cancelled by rising over the resistance level of 5/8 (0.9887). In this case, the quotes may rise to the resistance level of 6/8 (1.0009).

USDCHFH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower border of VoltyChannel is broken. This increases the probability of falling to 4/8 (0.9765) on H4.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is nearing the oversold area. In such a situation, we should expect a test of 3/8 (1671.88), a bounce off it, and falling to the support level of 1/8 (1640.62). The scenario can be cancelled by an upward breakaway of the resistance level of 3/8 (1671.88). This event might lead to a trend reversal and growth of the price to 5/8 (1703.12).

XAUUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, an additional signal confirming the decline will be a breakaway of the lower line of VoltyChannel.

XAUUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.


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