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USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is still consolidating. In this case, the price is expected to break 4/8 and then continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator once again and, as a result, continue trading downwards to reach 3/8 from the H4 chart.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is moving between 6/8 and 7/8. In this case, the price may resume trading downwards, break 6/8, and then continue its decline towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing towards the resistance at 8/8.
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In the M15 chart, the pair may break the downside line of the VoltyChannel indicator again and, as a result, continue trading downwards.
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.