USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and then continue growing to reach the resistance at 7/8. However, this scenario may be cancelled if the price breaks 5/8 to the downside. After that, the instrument may correct towards the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, XAUUSD is trading below it, thus indicating a descending tendency. In this case, the price is expected to break 5/8 and then continue moving downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may reverse and grow towards 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline towards 4/8 from the H4 chart.
