USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 5/8 level, rebound from I, and then resume falling to reach the support at the 4/8 one.
As we can see in the H1 chart, the pair is trading inside the “overbought zone” above the 8/8 level. If the price breaks the 1/8 level, the instrument may resume moving downwards to reach the support at the 7/8 one.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD may rebound from the 2/8 level and resume falling towards the support at the 0/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above. However, the pair may yet test the resistance at the 3/8 level, rebound from it, and then resume moving downwards to reach the support at the 0/8 one.
RoboForex Analytical Department
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.