USDCHF has broken the 200-day Moving Average on H4 and is currently below it, revealing probable development of a downtrend. The RSI has rebounded from the resistance line. A downward breakout of 3/8 (0.8977) is expected, followed by a decline to the support at 2/8 (0.8911). The scenario could be cancelled by rising above 4/8 (0.9033). In this case, the pair might return to the resistance at 5/8 (0.9094).
On M15, a new breakout of the lower boundary of the VoltyChannel could increase the probability of a price decline.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has reached the oversold area. In this situation, a test of 7/8 (1968.75) is expected, followed by a breakout of this level and a rise to the resistance at 8/8 (2000.00). The scenario could be cancelled by a downward breakout of the 6/8 (1937.50) level, which might lead to a trend reversal and a decline of the quotes to the support at 5/8 (1906.25).
On M15, a breakout of the upper boundary of the VoltyChannel could be an additional signal confirming the price rise.
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.