USDCHF quotes have broken the 200-day Moving Average on H4 and rest below it, indicating an opportunity of a downtrend development. However, the RSI has formed a conversion that reveals price growth. As a result, 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 3/8 (0.8977). In this case, the quotes might continue falling and reach the support at 2/8 (0.8911).
On M15, the growth of the pair might be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes and the RSI on H4 are in the overbought areas. Iт these circumstances, a downward breakout of 8/8 (1937.50) is expected, followed by a decline to the support at 6/8 (1906.25). The scenario can be cancelled by rising above 1/8 (1953.12). In this case, the quotes might reach the resistance at 2/8 (1968.75).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of a price rise.
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.