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Murrey Math Lines 20.04.2023 (USDCHF, XAUUSD)

20.04.2023

USDCHF, “US Dollar vs Swiss Franc”

On H4, the quotes are under the 200-day Moving Average, revealing the presence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a test of 1/8 (0.8911) should be expected, followed by a downward breakout and a decline to the support at 0/8 (0.8789). The scenario can be canceled if the price rises above the resistance at 2/8 (0.9033). In this case, the pair could rise to 3/8 (0.9155).

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

On M15, the decline can be additionally supported by a breakout of the lower line of the VoltyChannel indicator.

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 above the 200-day Moving Average, which reveals the prevalence of an uptrend. The RSI is nearing the resistance line. In these circumstances, the price is expected to rise above 8/8 (2000.00) and reach 1/8 (2031.25) later. The scenario can be canceled by a downward breakout of the support at 7/8 (1968.75), which may lead to a trend reversal and a decline in gold quotes to 6/8 (1937.50).

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

On M15, a breakout of the upper border of VoltyChannel will increase the probability of further price growth.

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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