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:
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.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
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.
- COT Metals Charts: Weekly Speculator Changes led by Platinum Nov 23, 2024
- COT Bonds Charts: Speculator Bets led lower by 5-Year & 10-Year Bonds Nov 23, 2024
- COT Soft Commodities Charts: Speculator Bets led lower by Soybean Oil, Soybean Meal & Cotton Nov 23, 2024
- COT Stock Market Charts: Speculator Changes led by S&P500 & Nasdaq Minis Nov 23, 2024
- Bitcoin price is approaching 100,000. Natural gas prices rise due to declining inventories and cold weather Nov 22, 2024
- USD/JPY Awaits Potential Stimulus Impact Nov 22, 2024
- RBNZ may cut the rate by 0.75% next week. NVDA report did not meet investors’ expectations Nov 21, 2024
- NZD/USD Under Pressure Amidst USD Strength Nov 21, 2024
- USDJPY bulls venture into intervention zone Nov 20, 2024
- The PBoC kept interest rates. The escalating war between Ukraine and Russia is negatively affecting investor sentiment Nov 20, 2024
