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Murrey Math Lines 14.09.2023 (USDCHF, XAUUSD)

14.09.2023

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is testing the support line. In this situation, further growth to the nearest resistance level of 7/8 (0.8972) is expected. The scenario can be cancelled by a downward breakout of the 6/8 (0.8911) level. In this case, the quotes could drop to the support at 5/8 (0.8850).

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

On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.

USDCHF_M15
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 below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the resistance line. Currently, a downward breakout of 2/8 (1906.25) is expected, followed by a decline to the support at 1/8 (1890.62). The scenario can be cancelled by a rebound from the 2/8 (1906.25) level. In this case, gold quotes might rise to the resistance at 3/8 (1921.88).

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

On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of a further price decline.

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. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.