Murrey Math Lines 19.01.2023 (USDCHF, XAUUSD)

murrey-math-lines-1901.2023-(usdchf,-xauusd)

USDCHF, “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.

XAUUSD, “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.

Source: Roboforex

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