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Murrey Math Lines 24.11.2022 (USDCHF, XAUUSD)

24.11.2022

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. However, the RSI is already in the oversold area. Here we should expect a test of the support level at 0/8 (0.9277), a bounce off it, and growth to the resistance level of 2/8 (0.9521). The scenario can be cancelled by a downward breakaway of 0/8 (0.9277). In this case, the decline might continue, and the quotes might drop to -1/8 (0.9155).

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

On M15, the upper line of VoltyChannel is too far away from the current price, so growth will be signaled by a bounce off 0/8 (0.9277) 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, gold quotes are in the overbought area, while the RSI is testing the resistance line A downward breakaway of 8/8 (1750.00) is expected, followed by falling to the support level of 7/8 (1718.75). The scenario can be cancelled by rising over the resistance level of 1/8 (1781.25). This might entail further growth to 2/8 (1812.50).

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

On M15, an additional signal for a decline may be given by a breakaway of the lower border 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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