USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has reached the oversold area. In this situation, the price is expected to test the 8/8 (0.9277) level, rebound from it, and drop to the support at 6/8 (0.9155). The scenario can be cancelled by breaking the 8/8 (0.9277) level. In this case, the quotes could reach the resistance at +1/8 (0.9334).
On M15, following a rebound from the 8/8 (0.9277) level on H4, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.
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XAUUSD, “Gold vs US Dollar”
Gold quotes and the RSI are in the oversold area. In such circumstances, the quotes are expected to surpass the 0/8 (1875.00) level, rising to the resistance at 2/8 (1890.62). The scenario can be cancelled by a downward breakout of the -1/8 (1867.19) level, which will send the quotes down to the support at -2/8 (1859.38).
On M15, the upper line of the VoltyChannel is too far from the current price so the price rise could be supported by breaking the 0/8 (1875.00) level on H4.
Article By RoboForex.com
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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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