Murrey Math Lines 28.03.2024 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI is in the overbought area. As a result, in this situation, the price is expected to break below the 6/8 (0.9033) level, falling to the support at 5/8 (0.8911). The scenario could be cancelled by rising above the resistance at 7/8 (0.9155). In this case, the pair might climb to the 8/8 (0.9277) level.
On M15, a breakout of the lower line of the VoltyChannel will increase the probability of a further price decline.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, which indicates a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise to the nearest resistance at 8/8 (2250.00). The scenario could be cancelled by a breakout of the 7/8 (2187.50) level. In this case, Gold quotes might decline to the support at 6/8 (2125.00).
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a further price rise.
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.