USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are under the 200-day Moving Average, indicating prevalence of a downtrend. The RSI is approaching the resistance level. A test of 1/8 (0.9338) is expected here, followed by a bounce off it and falling to the support level of -1/8 (0.9216). The scenario can be cancelled by a breakaway of 1/8 (0.9338) upwards, which might lead to a trend reversal and growth of the pair to the resistance level of 2/8 (0.9399).
On M15, an additional signal confirming the decline will be a breakaway of the lower border of VoltyChannel.
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.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
XAUUSD, “Gold vs US Dollar”
On H4, Gold quotes are in the overbought area. The RSI is nearing the descending trendline that acts as a resistance level. Hence, a downward breakaway of 8/8 (1875.50) should be expected, followed by falling to the support level of 6/8 (1843.75). The scenario can be cancelled by rising over the resistance level of +1/8 (1890.62). This might provoke further growth of the quotes to +2/8 (1906.25).
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of further 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
