USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance at 5/8. However, this scenario may be cancelled if the price breaks the support at 3/8 to the downside. After that, the instrument may reverse and fall towards the next support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading above the 200-day Moving Average, thus indicating a further ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue moving upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and correct down to the next support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 4/8 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.