USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 5/8, break it, and then continue falling to reach the support at 4/8. However, this scenario may be cancelled if the price tests and breaks 6/8 to the upside. After that, the instrument may grow towards the resistance at 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average again, XAUUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 5/8 and move upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks the support at 4/8 to the downside. After that, the instrument may continue falling towards 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.
Source: Roboforex
