Article By RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. The Relative Strength Index is testing the ascending trendline. In this case, the pair is expected to rebound from 6/8 (0.9643), and then resume growing towards the resistance at 8/8 (0.9765). However, this scenario may be cancelled if the price breaks the support at 6/8 (0.9643) to the downside. After that, the instrument may move downwards to reach 5/8 (0.9582).
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
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 below the 200-day Moving Average, thus indicating a descending tendency. The Relative Strength Index has broken the ascending trendline downwards, which is another signal in favour of a further downtrend. In this case, the price is expected to break 5/8 (1656.25) and continue moving downwards to reach the support at 4/8 (1625.00). However, this scenario may no longer be valid if the price breaks the resistance at 6/8 (1687.50) to the upside. After that, the instrument may reverse and resume growing towards 7/8 (1718.75).
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving 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.
- The Dollar Index strengthened on Powell’s comments. The Bank of Mexico cut the rate to 10.25% Nov 15, 2024
- EURUSD Faces Decline as Fed Signals Firm Stance Nov 15, 2024
- Gold Falls for the Fifth Consecutive Trading Session Nov 14, 2024
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
- Brent Crude Stumbles as Market Sentiments Turn Cautious Nov 12, 2024
- Bitcoin hits new record high just shy of $82,000! Nov 11, 2024
- The Dow Jones broke the 44 000 mark, and the S&P 500 topped 6 000 for the first time. The deflationary scenario continues in China Nov 11, 2024
