USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the support line. In this situation, a test of 5/8 (0.9094) is expected, followed by a rebound from it and a rise to the resistance at 7/8 (0.9216). The scenario can be cancelled by a downward breakout of 5/8 (0.9094). In this case, the quotes could correct to the support at 4/8 (0.9033).
On M15, the upper line of the VoltyChannel is too far from the current price, which means the growth of the quotes can only be indicated by a rebound from 5/8 (0.9094) on H4.
XAUUSD, “Gold vs US Dollar”
Gold quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend; however, they have already neared the oversold area. In these circumstances, a correction might follow. The RSI has broken the resistance line. As a result, the price is expected to break the 1/8 (1828.12) level, subsequently reaching the resistance at 3/8 (1859.38). The scenario can be cancelled by a downward breakout of 0/8 (1812.50) that could provoke a further decline of gold quotes to the support at -1/8 (1796.88).
On M15, an additional signal confirming the price rise might be a breakout of the upper boundary of the VoltyChannel.
