Article By RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a tendency reversal and a further decline. In this case, the price is expected to break 3/8 and then continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may grow to reach the resistance at 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue the descending tendency.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD has rebounded from the 200-day Moving Average once again. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may continue growing towards 5/8.
In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
