USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF has rebounded from the resistance at 8/8. In this case, the price is expected to continue falling to reach the support at 6/8. However, this scenario may be cancelled if the price tests and breaks 8/8 to the upside. After that, the instrument may grow 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”
In the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to rebound from 2/8 and move downwards to reach the 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 continue growing towards 4/8.
As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume trading downwards only after rebounding from 2/8 in 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.