Murrey math lines: USD/CHF, XAU/USD
|USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, the quotes are expected to rise above 1/8 (0.8422) and later reach the resistance at 2/8 (0.8544). The scenario could be cancelled by a downward breakout of 0/8 (0.8308). If so, the quotes might continue falling and hit the support at -1/8 (0.8178).
On M15, the growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAU/USD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 7/8 (2093.75) is expected, followed by a rebound from this level and a decline to the support at 6/8 (2062.50). The scenario could be cancelled by rising above the resistance at 7/8 (2093.75). In this case, gold quotes might rise to the 8/8 (2125.00) level.
On M15, the lower boundary of the VoltyChannel is too far from the current price, hence, the decrease of the quotes could only be supported by a rebound from 7/8 (2093.75) on H4.
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