On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI pushed off the resistance line and headed downwards. In these circumstances, we should expect the price to break the level of 2/8 (0.9155) downwards and drop to the support level of 1/8 (0.9094). The scenario can be canceled if the price breaks the resistance level of 3/8 (0.9216). In this case, the pair might rise to 4/8 (0.9277).
On M15, the lower line of the VoltyChannel indicator has broken. This event increases the probability of a further decline in the price.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has broken the resistance line. As a result, we should expect the price to test 8/8 (2000.00) and grow to the resistance level of 1/8 (2031.25). The scenario can be canceled by a breakaway of the support level of 7/8 (1968.75) downwards. In this case, gold quotes might return to 6/8 (1937.50).
On M15, the upper line of VoltyChannel has broken, which confirms the presence of an uptrend and increases the probability of further growth of the price.
Attention!
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.