USDCHF quotes on H4 and the RSI are in their oversold areas. In these circumstances, the instrument is expected to rise above -1/8 (0.8667) and advance to the resistance level of 0/8 (0.8789). The scenario can be cancelled by a downward breakout of the support at -2/8 (0.8544), which could cause a reshuffling of Murray lines, after which new decline targets can be set.
On M15, the price decline could be additionally confirmed by a breakout of the lower boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes have broken the 200-day Moving Average on H4 and are now above it, indicating a possible development of an uptrend. The RSI is approaching the support line. In this situation, a test of 5/8 (1953.12) is expected, followed by a breakout of this level and a rise to the resistance level of 6/8 (1968.75). The scenario can be cancelled by a downward breakout of 5/8 (1953.12). In this case, the quotes might drop to the support level of 4/8 (1937.50).
On M15, the upper line of the VoltyChannel is broken. This increases the probability of a further price rise.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.