USDCHF quotes are above the 200-day Moving Average on H4, revealing the probability of an uptrend development. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 6/8 (0.8667) and reach the resistance at 7/8 (0.8728). The scenario could be cancelled by a downward breakout of the support at 5/8 (0.8606). In this case, the pair might drop to the 4/8 (0.8544) level.
On M15, the growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAUUSD, "Gold vs US Dollar"
Gold quotes and the RSI are approaching their oversold areas. In this situation, a test of 0/8 (2000.00) is expected, followed by a rebound from this level and a rise to the resistance at 2/8 (2031.25). The scenario could be ancelled by a downward breakout of the support at 0/8 (2000.00), which could entail a price decline to the -1/8 (1984.38) level.
On M15, after a rebound from 0/8 (2000.00) on H4, the growth might 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.