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 to indicate a possible ascending tendency. In this case, the price is expected to break the resistance at 5/8 and then continue growing to reach 6/8. However, this scenario may be cancelled if the price breaks the support at 4/8 to the downside. After that, the instrument may reverse and fall towards 3/8.
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.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading at the 200-day Moving Average, thus indicating a sideways tendency. In this case, there might be two possible scenarios, and at first glimpse, each of them has equal chances. The first scenario implies that the asset may break the support at 1/8 and continue falling towards 0/8, while the second one suggests a breakout of the resistance at 2/8 and a further uptrend to reach 3/8. If we take a closer look at the chart, we may assume that the second scenario is less likely, because the price already tried to break the resistance at 2/8 but failed. Hence, the former scenario is more probable.
In the M15 chart, the pair 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.
- The RBA may go for a rate cut in February. New Zealand dollar is falling amid recession in the economy and RBNZ’s dovish stance Dec 27, 2024
- Flashpoint Friday: Bitcoin and Yen traders brace for Dec. 27 volatility Dec 26, 2024
- Canadian dollar declines after weak GDP data. Qatar threatens EU to halt natural gas exports Dec 24, 2024
- Goldman Sachs has updated its economic projections for 2025. EU countries are looking for alternative sources of natural gas Dec 23, 2024
- COT Bonds Charts: Speculator Bets led by SOFR 3-Months & 10-Year Bonds Dec 21, 2024
- COT Metals Charts: Speculator Bets led lower by Gold, Copper & Palladium Dec 21, 2024
- COT Soft Commodities Charts: Speculator Bets led by Live Cattle, Lean Hogs & Coffee Dec 21, 2024
- COT Stock Market Charts: Speculator Bets led by S&P500 & Russell-2000 Dec 21, 2024
- Riksbank and Banxico cut interest rates by 0.25%. BoE, Norges Bank, and PBoC left rates unchanged Dec 20, 2024
- Brent Oil Under Pressure Again: USD and China in Focus Dec 20, 2024
