USDCHF quotes are below the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to break the 3/8 (0.8483) level downwards, followed by a decline to the support at 2/8 (0.8422). The scenario could be cancelled by rising above the resistance at 4/8 (0.8544), in which case, the pair might rise to 5/8 (0.8606).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, a further rise to the 2/8 (2062.50) level is expected. The scenario could be cancelled by a downward breakout of the support at 1/8 (2031.25), which might lead to a trend reversal and a decline to the 0/8 (2000.00) level.
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price growth.
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.