USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the support line. In this situation, a test of 5/8 (0.9094) is expected, followed by a rebound from it and a rise to the resistance at 7/8 (0.9216). The scenario can be cancelled by a downward breakout of 5/8 (0.9094). In this case, the quotes could correct to the support at 4/8 (0.9033).
On M15, the upper line of the VoltyChannel is too far from the current price, which means the growth of the quotes can only be indicated by a rebound from 5/8 (0.9094) on H4.
XAUUSD, “Gold vs US Dollar”
Gold quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend; however, they have already neared the oversold area. In these circumstances, a correction might follow. The RSI has broken the resistance line. As a result, the price is expected to break the 1/8 (1828.12) level, subsequently reaching the resistance at 3/8 (1859.38). The scenario can be cancelled by a downward breakout of 0/8 (1812.50) that could provoke a further decline of gold quotes to the support at -1/8 (1796.88).
On M15, an additional signal confirming the price rise might be 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.