USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, USDCHF is trading within the “overbought area”. In this case, the price is expected to break +1/8 and then correct to the downside to reach the support at 7/8. Still, this scenario may no longer be valid if the price fixes above +1/8. After that, the instrument may continue growing towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. Earlier, the asset rebounded from the resistance at 2/8. In this case, the price is expected to continue falling to reach the closest support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may correct to the upside towards 3/8.
As we can see in the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, may continue falling.
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Source: RoboForex
