USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the price is expected to break 1/8 and then correct to the downside to reach the support at 7/8. Still, this scenario may no longer be valid if the price fixes above 1/8. After that, the instrument may continue growing towards the resistance at 2/8.
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 trading below the 200-day Moving Average, thus indicating a descending tendency. Earlier, the asset rebounded from the resistance at 2/8. In this case, the price is expected to continue falling to reach the closest support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may correct to the upside towards 3/8.
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.
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.