USDCHF quotes and the RSI on H4 are in their oversold areas. A rebound from -1/8 (0.8728) is expected followed by a price rise to the resistance at 1/8 (0.8850). This scenario could be cancelled by a downward breakout of -1/8 (0.8728). In this case, the pair might drop to the support at -2/8 (0.8667).
On M15, the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
XAUUSD quotes and the RSI are in their overbought areas. In this situation, a test of 1/8 (2031.25) is expected, followed by a breakout of this level and a decline to the support at 8/8 (2000.00). The scenario could be cancelled by a breakout of the 2/8 (2062.50) level, which could lead to reshuffling of Murrey indication, after which new price targets will be set.
On M15, a breakout of the lower VoltyChannel boundary could increase the probability of a price decline.
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.