USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are in the oversold area on H4. The RSI is testing the resistance line. In this situation, the quotes are expected to rise above -1/8 (0.8667), subsequently reaching the resistance level of 0/8 (0.8789). The scenario could be cancelled by a downward breakout of -2/8 (0.8544), which will reshuffle the Murrey lines, so that new price targets will be set.
On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 6/8 (2062.50) and climb to the resistance at 7/8 (2093.75). This scenario could be cancelled by a downward breakout of 5/8 (2031.25), in which case the quotes could return to the support at 4/8 (2000.00).
On M15, a breakout of the upper VoltyChannel boundary might increase the probability of the price rise.
Source: Roboforex
