USDCHF quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 4/8 (0.8789) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.8667). The scenario could be cancelled by rising above the 4/8 (0.8789) level. In this case, the pair might climb to the resistance at 5/8 (0.8850).
On M15, after a rebound from 4/8 (0.8789), the price decline could be additionally supported by a breakout of the lower VoltyChannel boundary.
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 testing the resistance line. In this situation, the quotes are expected to rise above 5/8 (2031.25) and reach the resistance at 6/8 (2062.50). The scenario could be cancelled by a downward breakout of the 4/8 (2000.00) level. In this case, Gold quotes might drop to the support at 3/8 (1968.75).
On M15, the 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.