USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is testing the support line. In this situation, further growth to the nearest resistance level of 7/8 (0.8972) is expected. The scenario can be cancelled by a downward breakout of the 6/8 (0.8911) level. In this case, the quotes could drop to the support at 5/8 (0.8850).
On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the resistance line. Currently, a downward breakout of 2/8 (1906.25) is expected, followed by a decline to the support at 1/8 (1890.62). The scenario can be cancelled by a rebound from the 2/8 (1906.25) level. In this case, gold quotes might rise to the resistance at 3/8 (1921.88).
On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of a further price decline.
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.