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Murrey Math Lines 14.12.2023 (USDCHF, XAUUSD)

USDCHF, "US Dollar vs Swiss Franc"

USDCHF quotes are going below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, a rebound from the 2/8 (0.8667) level is expected, followed by a price rise to the resistance at 4/8 (0.8789). The scenario could be cancelled by a downward breakout of the 2/8 (0.8667) level. In this case, the pair could drop to the support at 1/8 (0.8606).

Murrey Math Lines 14.12.2023 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper boundary of the VoltyChannel is too far from the current price, so the growth of the quotes can be supported by a rebound from the 2/8 (0.8667) level on H4.

Murrey Math Lines 14.12.2023 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, "Gold vs US Dollar"

Gold quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the overbought area. In this situation, the price is expected to rise above 5/8 (2031.25) and reach the resistance at 6/8 (2062.50). The scenario could be cancelled by a downward breakout of the 4/8 (2000.00) level, in which case gold quotes might return to the support at 3/8 (1968.75).

Murrey Math Lines 14.12.2023 XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a further price rise.

Murrey Math Lines 14.12.2023 XAUUSD
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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