USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is no longer trading inside the “oversold area”. In this case, the pair is expected to resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the instrument breaks 0/8. After that, the pair may start a new decline to reach the support at -2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is trading at 5/8. In this case, the price may either rebound from this level and grow towards the resistance at 7/8 or break it and resume falling to reach the support at 3/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards. However, if the price breaks the upside line, the instrument may resume growing to reach the resistance at 7/8 from 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.