Article By RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after rebounding from the 200-day Moving Average, USDCHF is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 8/8, break it, and continue growing to reach the resistance at +1/8. However, this scenario may be cancelled if the price breaks the support at 7/8 to the downside. After that, the instrument may fall towards 5/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.
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XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading above it to indicate an ascending tendency. In this case, the price is expected to break 7/8 and move upwards to reach the resistance at +1/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and resume falling towards the support at 4/8.
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.
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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