By: RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotations are below 200-day Moving average on H4, which indicates the presence of a downtrend. The RSI line is nearing resistance. In this situation, it is likely that a downward breakout will occur at the 3/8 (0.8977) level, which would be followed by an eventual decline to 1/8 (0.8850). By rising above the 4/8 (0.9033) level, this scenario can be cancelled. This could lead to trend reversal leading to growth at 5/8 (0.9094).
A breakout of the lower VoltyChannel boundary could confirm the decline on M15.
XAUUSD, “Gold vs US Dollar”
On H4, gold prices and the RSI have reached their overbought levels. In this case, we can expect a test to 8/8 (2000.00), a rebound and then a drop down to the support level of 6/8 (1937.50). By rising above 8/8 (20000), the scenario can be cancelled. In this scenario, the price may reach resistance at +1/8 (2031.25).
A break of the lower boundary VoltyChannel on M15 can increase the probability that the price will decline.
Article by RoboForex.com
Attention!
These forecasts are only the author’s personal opinion and not intended as a trading guide ….
