As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the pair is expected to test 8/8, break it, and the continue falling towards the support at 7/8. However, this scenario may be cancelled if the price breaks the resistance at 1/8 to the upside. After that, the instrument may move upwards to reach 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 6/8, break it, and then continue moving downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may reverse and resume growing towards 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
