On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of the downtrend. The RSI is testing the resistance line. A downward breakaway of the support level of 1/8 (0.9399) should be expected, followed by falling to 0/8 (0.9277). The scenario can be cancelled by rising over 2/8 (0.9521). In this case, the pair may rise to 3/8 (0.9643).
On M15, a breakaway of the lower line of VoltyChannel will increase the probability of price falling to 0/8 (0.9277) on H4.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes remain in the overbought area. The RSI has bounced off the resistance line. A breakaway downwards of 1/8 (1781.25) is expected, followed by falling to the support level of 8/8 (1750.00). The scenario can be cancelled by rising over the resistance level of 2/8 (1812.50). This will lead to reshuffling of Murray lines, after which new goals of growth will be set.
On M15, an additional signal confirming the decline will be a downward breakaway of the lower border of VoltyChannel.
