USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are in the overbought area. A downward breakaway of 8/8 is expected, followed by further falling to the support level of 7/8. The scenario can be cancelled by a breakaway of +1/8 upwards. In this case the pair might start growing again and even reach the resistance level of +2/8.
On M15, the lower line of VoltyChannel is broken away, which increases the probability of falling to 7/8 on H4.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates a downtrend. A test of 6/8 should be expected, followed by a breakaway and falling to the support level of 5/8. The scenario can be cancelled by a breakaway of 7/8 upwards, in which case gold can grow to the resistance level of 8/8.
On M15, a breakaway of the lower line of VoltyChannel will become an additional signal confirming the decline.
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.