USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading between 0/8 and 1/8. In this case, the price is expected to break 1/8 and then continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.
In the M15 chart, the VoltyChannel indicator confirms only the second scenario, which implies a further decline towards -2/8. Under these circumstances, we should follow the H4 chart and wait until the price breaks 1/8.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is consolidating. In this case, the price is expected to continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency towards 3/8 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.