USDCHF quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, divergence has formed on the RSI. In this situation, the price is expected to rebound from the 7/8 (0.9155) level and fall to the support at 5/8 (0.8911). The decline in the pair is interpreted as a correction within an uptrend. The scenario could be cancelled by rising above the resistance at 7/8 (0.9155). In this case, the pair might reach the 8/8 (0.9277) level.
On M15, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is approaching the support line. In this situation, the price is expected to test the 2/8 (2250.00) level, rebound from it, and rise to the resistance at 4/8 (2500.00). The scenario could be cancelled by a breakout of the 2/8 (2250.00) level. In this case, Gold quotes might fall to the support at 1/8 (2125.00).
On M15, following a rebound from the 2/8 (2250.00) level on D1, the price rise 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.