USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. The Relative Strength Index has rebounded from the ascending trendline. In this case, the pair is expected to break 6/8 (1.0009) and then continue growing towards the resistance at 7/8 (1.0131). However, this scenario may be cancelled if the price breaks the support at 5/8 (0.9887) to the downside. After that, the instrument may move downwards to reach 4/8 (0.9765).
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue its growth towards 7/8 (1.1031) from the H4 chart.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. The Relative Strength Index has failed to break the resistance. In this case, the price is expected to test 2/8 (1656.25), break it, and then continue moving downwards to reach 1/8 (1640.62). However, this scenario may no longer be valid if the price breaks the resistance at 4/8 (1680.50) to the upside. After that, the instrument may reverse and resume growing towards 6/8 (1718.65).
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
Source: Roboforex
