USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the downtrend continues. Right now, USDCHF is trading close to 3/8. If the pair rebounds from this level, it may resume falling towards the support at 0/8. However, if the instrument breaks 3/8 upwards, the pair may start a new correction to reach the resistance at 5/8.
In the H1 chart, the pair is trading above 5/8, thus indicating further growth towards 8/8 and 2/8. As a result, the most probable scenario is the one that implies further ascending movement. However, this scenario may no longer be valid if the price breaks 5/8. In this case, the instrument may resume falling to reach the support at 0/8.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has failed to break the resistance at 7/8, which means a new decline towards the support at 3/8. However, this scenario may be no longer valid if the pair breaks the resistance at 7/8. In this case, the instrument may continue growing towards the “overbought area” up to 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, resume moving downwards.
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.