Murrey math lines: USD/CHF, XAU/USD
|USD/CHF, “US Dollar vs Swiss Franc”
On H4, the quotes are under the 200-day Moving Average, which indicates a downtrend. The RSI has bounced off the resistance line. As a result, a downward breakaway of 2/8 (0.9155) is expected, from where the pair is to fall to the support level of 0/8 (0.9033). The scenario can be cancelled by an upward breakaway of 3/8 (0.9216). In this case, the pair might rise to the resistance level of 4/8 (0.9277).
On M15, the lower line of VoltyChannel is broken away. This increases the probability of further price falling.
XAU/USD, “Gold vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating prevalence of an uptrend. The RSI is nearing the support level. As a result, a bounce off 5/8 (1906.25) should be expected, followed by growth to the resistance level of 6/8 (1937.50). The scenario can be cancelled by a downward breakaway of the support level of 4/8 (1875.50). This might lead to falling to 3/8 (1843.75).
On M15, growth can be additionally supported by a breakaway of the upper border of VoltyChannel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.