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. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance at 5/8. However, this scenario may be cancelled if the price breaks the support at 3/8 to the downside. After that, the instrument may reverse and fall towards the next support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading above the 200-day Moving Average, thus indicating a further ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue moving upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and correct down to the next support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 4/8 in the H4 chart.
Source: Roboforex
