USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 7/8, break it, and then continue growing to reach the resistance at 8/8. However, this scenario may be cancelled if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards the support at 4/8.
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.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, after rebounding from the 200-day Moving Average, XAUUSD is trading above it, thus indicating a further ascending tendency. In this case, the price is expected to break 7/8 and continue moving upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 6/8 to the downside. After that, the instrument may reverse and form a new descending wave towards 5/8.
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 trading upwards.
Source: Roboforex
