On H4, the quotes have broken the 200-day Moving Average and are now above it, which indicates the probability of an uptrend development. The RSI is nearing the overbought area. In this situation, the quotes are expected to rise above 5/8 (0.9094) and reach the resistance level of 6/8 (0.9155). The scenario can be cancelled by a downward breakout of the support at 4/8 (0.9033). In this case, the pair could drop to 3/8 (0.8972).
On M15, the upper line of VoltyChannel is broken. This increases the probability of a further price increase.
XAUUSD, “Gold vs US Dollar”
On H4, the quotes remain in the oversold area. The RSI is testing the support line. As a result, the quotes are expected to rise above -1/8 (1968.75) and reach the resistance at 0/8 (2000.00). The scenario can be cancelled by a downward breakout of the support level of -2/8 (1937.50), which could result in reshuffling the Murray math lines, after which new price targets might be set.
On M15, further growth of the quotes might be supported by a breakout of the upper border of the VoltyChannel.
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.