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Murrey Math Lines 09.03.2023 (USDCHF, XAUUSD

09.03.2023

USDCHF, “US Dollar vs Swiss Franc”

On H4, the USDCHF quotes are above the 200-day Moving Average, revealing prevalence of an uptrend. The RSI is testing the support line. In this situation, a rebound from 6/8 (0.9399) should be expected, after which the price might rise to the resistance level of 8/8 (0.9521). The scenario can be cancelled by a downward breakaway of the support level at 5/8 (0.9338), in which case the pair might fall to 4/8 (0.9277).

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

On M15, a breakaway of the upper line of the VoltyChannel indicator will increase the probability of further growth of the price.

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 have reached the oversold area and are now testing the support level of 0/8 (1812.50). The RSI has pushed off 30, which is the upper border of the oversold area. As a result, the quotes are now expected to break through 1/8 (1828.12) and grow to the resistance level of 2/8 (1843.75). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (1812.50). In this case, the decline of gold quotes will continue, and the price might drop to -1/8 (1796.88).

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

On M15, the growth of the price can be additionally supported by a breakaway of the upper line of the VoltyChannel indicator.

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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