On H4, the quotations are trading above the 200-days Moving Average which indicates an uptrend. We expect them to grow to the nearest resistance level of 5/8. The scenario might be canceled by a breakaway of 4/8 downwards. In this case, the trend will reverse, and the quotations will reach the support at 3/8.
On M15, a breakaway of the upper border of VoltyChannel will be yet another signal for the growth of the price.
XAUUSD, “Gold vs US Dollar”
On H4, the quotations are trading in a consolidation range between 3/8 and 5/8. We expect them to get over 4/8 and grow further to the resistance at 5/8. The scenario can be canceled by a breakaway of 3/8 downwards, which might provoke the price to drop further to the support at 2/8.
On M15, a breakaway of the upper border of VoltyChannel will make the growth of the price more probable.
