USDCHF, “US Dollar vs Swiss Franc”
On H4, the quotes are nearing the oversold area, while the RSI has already got to its own. As a result, a test of 0/8 (0.9033) is expected, followed by a bounce off it and growth to the resistance level of 2/8 (0.9155). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (0.9033). In this case, the pair may keep falling, and the quotes might drop to -1/8 (0.8972).
On M15, the upper line of VoltyChannel is too far away from the current price, so growth of the quotes can only be marked by a bounce off 0/8 (0.9033) on H4.
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”
On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has broken through the resistance line. So, the quotes are expected to rise above 7/8 (1968.75) and grow as far as the resistance level of 8/8 (2000.00). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1937.50). This might bring the quotes down to 4/8 (1875.50).
On M15, the upper line of VoltyChannel is broken away, which means an uptrend and high probability of further growth of the quotes.
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.
- PBoC launches new stimulus for the economy. Silver hits two-month high Oct 18, 2024
- USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data Oct 18, 2024
- Week Ahead: Tesla kicks off Big Tech earnings Oct 18, 2024
- A strong Australian labor market report reinforced the RBA’s hawkish stance. Banks in Thailand and the Philippines cut interest rates Oct 17, 2024
- Inflationary pressures continue to ease in the UK and New Zealand Oct 16, 2024
- EUR/USD Continues Downward Amid Economic Uncertainties Oct 16, 2024
- India is experiencing a surge in inflation. US stock indices are once again updating historical highs. Oct 15, 2024
- Brent: Slumps on easing Middle East fears Oct 15, 2024
- USD/JPY Faces Resistance Amid Geopolitical and Economic Uncertainties Oct 15, 2024
- COT Metals Charts: Speculator Bets led by Steel & Palladium Oct 12, 2024