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. The Relative Strength Index has rebounded from the support. In this case, the pair is expected to break 5/8 (0.9826) and then continue growing towards the resistance at 7/8 (0.9948). However, this scenario may be cancelled if the price breaks the support at 4/8 (0.9765) to the downside. After that, the instrument may move downwards to reach 3/8 (0.9704).
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue its growth towards 7/8 (0.9948) from the H4 chart.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading above it, thus indicating an ascending tendency. However, there is divergence near 70 on the Relative Strength Index, which is a signal in favour of decline. In this case, the price is expected to break the support at 7/8 (1718.75) and then continue moving downwards to reach 6/8 (1687.50). However, this scenario may no longer be valid if the price breaks the resistance at 8/8 (1750.75) to the upside. After that, the instrument may reverse and resume growing towards 1/8 (1781.25).
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
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.