USDCHF, “US Dollar vs Swiss Franc”
As we can see in the H4 chart, the downtrend continues. Right now, USDCHF is trading close to the 3/8 level. If the pair rebounds from this level, it may resume falling towards the support at the 0/8 one. However, if the instrument breaks the 3/8 level upwards, the pair may start a new correction to reach the resistance at the 5/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards. Right now, the pair is trying to break the upside line, thus indicating a possible rising correction.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD rebounded from the 8/8 level yesterday, which means a new decline towards the support at the 4/8 one. To confirm this scenario, the pair must break the 6/8 level. As long as the price is trading above this level, the ascending tendency may yet continue. In this case, the instrument may enter the “overbought area” and reach the +1/8 level.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
