USDCHF quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is approaching the resistance line. In this situation, a test of 4/8 (0.9033) is expected, followed by a breakout of the level and a rise to the resistance at 5/8 (0.9094). The scenario can be cancelled by a downward breakout of the 3/8 (0.8972) level, in which case the quotes could drop to the support at 2/8 (0.8911).
On M15, the upper boundary of the VoltyChannel is broken, increasing the chanes for a further price rise.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is approaching the support line. In such circumstances, gold price is expected to break the 4/8 (1937.50) level, rising to the resistance at 5/8 (1953.12). The scenario can be cancelled by a downward breakout of 3/8 (1921.88), which might reverse the trend and let the quotes drop to the support at 2/8 (1906.25).
On M15, price growth could be additionally supported by a breakout of the upper boundary 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.