USDCHF quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a breakout of 2/8 (0.8972) is expected, followed by a decline to the support level of 0/8 (0.8911). The scenario can be cancelled by rising above the resistance at 3/8 (0.9002), which might lead to a trend reversal and growth to 4/8 (0.9033).
On M15, a breakout of the lower line of the VoltyChannel will serve as an additional signal confirming the price decline.
XAUUSD, “Gold vs US Dollar”
Gold quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI has rebounded from the resistance line. A decline to the nearest support at 4/8 (1875.00) is expected. The scenario can be cancelled by rising above the resistance level at 6/8 (1937.50), in which case the quotes might grow to 7/8 (1968.75).
On M15, the lower line of the VoltyChannel is broken, which confirms the presence of a downtrend and increases the probability of a further decline.
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.