USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to continue falling to reach 1/8. Another signal in favor of further decline is a rebound from 3/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is moving below the 200-day Moving Average, thus indicating a descending tendency. However, right now, the asset is still moving inside the “oversold area”. In this case, the price is expected to break 0/8 upwards and correct to reach the resistance at 1/8. However, this scenario may no longer be valid if the price breaks the support at -1/8 to the downside. After that, the instrument may continue falling towards -2/8.
In the M15 chart, the price is moving quite far away from the upside line of the VoltyChannel indicator, that’s why the pair may resume growing only after a breakout of 0/8 in the H4 chart.
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.