Article By RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at 8/8. However, this scenario may be cancelled if the price tests and breaks 6/8 to the downside. After that, the instrument may fall towards the support at 5/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
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XAUUSD, “Gold vs US Dollar”
In the H4 chart, after breaking 5/8 to the downside, XAUUSD is back to consolidating. In this case, the price is expected to break the support at 4/8 and move downwards to reach the downside border of this range at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8 to the upside. After that, the instrument may resume growing towards 6/8.
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 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.
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