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, thus indicating a descending tendency. In this case, the price is expected to test 5/8, break it, and then continue falling to reach the support at 4/8. However, this scenario may be cancelled if the price breaks the resistance at 6/8 to the upside. After that, the instrument may continue growing towards 7/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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”
In the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and then continue moving downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 3/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
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.
- Trade of the Week: CHINAH to extend lead as Asia’s winner? May 13, 2024
- The German index has hit an all-time high. China sees rising consumer inflation May 13, 2024
- Brent crude oil faces downward pressure amid demand uncertainties May 13, 2024
- COT Metals Charts: Speculator bets led by Platinum & Copper May 11, 2024
- COT Bonds Charts: Speculator bets led by Fed Funds & Ultra 10-Year Bonds May 11, 2024
- COT Stock Market Charts: Speculator bets led by DowJones & Russell 2000 May 11, 2024
- COT Soft Commodities Charts: Speculator bets led by Corn & Soybeans May 11, 2024
- Natural gas prices are rising amid falling inventories. The Bank of England expectedly kept the rate May 10, 2024
- Strong data on China’s trade balance fuels Asian indices May 9, 2024
- How does the brain think? May 9, 2024