As we can see in the H4 chart, USDCHF is still trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the pair is expected to test 2/8, break it, and then continue falling towards the support at 1/8. However, this scenario may be cancelled if the price breaks the resistance at 3/8 to the upside. After that, the instrument may move upwards to reach 4/8.
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 breaking the 200-day Moving Average, XAUUSD is also trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks the support at 4/8 to the downside. After that, the instrument may reverse and resume falling to return to 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
