USDCHF quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, the quotes are expected to rise above 1/8 (0.8422) and later reach the resistance at 2/8 (0.8544). The scenario could be cancelled by a downward breakout of 0/8 (0.8308). If so, the quotes might continue falling and hit the support at -1/8 (0.8178).
On M15, the growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 7/8 (2093.75) is expected, followed by a rebound from this level and a decline to the support at 6/8 (2062.50). The scenario could be cancelled by rising above the resistance at 7/8 (2093.75). In this case, gold quotes might rise to the 8/8 (2125.00) level.
On M15, the lower boundary of the VoltyChannel is too far from the current price, hence, the decrease of the quotes could only be supported by a rebound from 7/8 (2093.75) on H4.
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.