USDCHF quotes have broken the 200-day Moving Average on H4 and now stand above it, revealing the probable development of an uptrend. The RSI has rebounded from the support line. In this situation, a test of 5/8 (0.8850) is expected, followed by a breakout and a price rise to 6/8 (0.8911). The scenario can be cancelled by a downward breakout of the support at 4/8 (0.8789), in which case the quotes could drop to 3/8 (0.8728).
On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of a further price rise.
XAUUSD, “Gold vs US Dollar”
Gold quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, a rebound from 1/8 (1890.62) is expected, followed by a rise to the resistance at 3/8 (1921.88). The scenario can be cancelled by a downward breakout of 1/8 (1890.62). In this case, the quotes might continue falling, which could lead to a price drop to 0/8 (1875.00).
On M15, the growth could be additionally supported by a breakout of the upper line 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.