Article By RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the pair is expected to rebound from 3/8 and then resume falling to reach the support at 1/8. However, this scenario may be cancelled if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow towards 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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 also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 3/8 and continue moving downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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.
- Stock indices sell-off amid rising geopolitical tensions in the Middle East. China’s GDP grew the most in a year Apr 16, 2024
- New FXTM commodity hits all-time high! Apr 16, 2024
- NZD hits five-month low against strong US dollar Apr 16, 2024
- Escalating conflict in the Middle East is forcing investors to shift funds to safe assets Apr 15, 2024
- US dollar exhibits remarkable strength amid global tensions Apr 15, 2024
- COT Metals Charts: Speculator bets led higher by Copper & Platinum Apr 13, 2024
- COT Bonds Charts: Speculator Bets led by 10-Year & 5-Year Bonds Apr 13, 2024
- COT Soft Commodities Charts: Speculator Bets led by Soybean Meal & Lean Hogs Apr 13, 2024
- COT Stock Market Charts: Weekly Speculator Bets led by VIX & S&P500-Mini Apr 13, 2024
- Singapore’s central bank (MAS) maintained its monetary policy settings. The ECB hinted at a rate cut soon Apr 12, 2024
