As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the closest support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 3/8.
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”
In the H4 chart, XAUUSD is still trading below the 200-day Moving Average, thus indicating a descending tendency to the upside. In this case, the price is expected to continue falling to reach the closest support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may continue growing towards 4/8.
As we can see in the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, may continue falling.
