USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above it to indicate a possible ascending tendency. In this case, the pair is expected to rebound from 6/8 and resume growing towards the resistance at 8/8. However, this scenario may be cancelled if the price breaks the support at 5/8 to the downside. After that, the instrument may move downwards to reach 4/8.
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 below the 200-day Moving Average within the “overbought area”, thus indicating a descending tendency. In this case, the price is expected to break the support at 8/8 and continue moving downwards to reach 7/8. However, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may reverse and resume growing towards +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 7/8 from the H4 chart.
Source: Roboforex
