As we can see in the H4 chart, after breaking 8/8, USDCHF is no longer trading inside the “overbought area”. In this case, the price is expected to continue falling to reach the support at 7/8. However, this scenario may be cancelled if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at 1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after leaving the “oversold area”, XAUUSD is trading at 1/8. In this case, the price is expected to break this level and then continue moving upwards to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks the support at 0/8 to the downside. After that, the instrument may get back inside the “oversold area” and fall towards -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth towards 2/8 from the H4 chart.
