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Murrey Math Lines 16.02.2023 (USDCHF, XAUUSD)

16.02.2023

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has bounced off the resistance line. A breakaway of 3/8 (0.9216) should be expected, followed by falling to the support level of 2/8 (0.9155). The scenario can be cancelled by rising above the resistance level of 4/8 (0.9277), which might lead to a trend reversal and growth to 5/8 (0.9338).

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, falling should be supported by a breakaway of the lower border of VoltyChannel.

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, revealing prevalence of a downtrend. The RSI has bounced off the resistance line. A breakaway of 1/8 (1828.12) should be expected, followed by falling to the support level of 0/8 (1812.50). The scenario can be cancelled by rising above the resistance level of 2/8 (1843.75), in which case gold quotes might correct to 4/8 (1875.50).

Gold_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower line of VoltyChannel is broken away, confirming the downtrend and increasing the probability of further decline.

Gold_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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