USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, after breaking the 200-day Moving Average again, USDCHF is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 6/8, break it, and then continue falling to reach the support at 5/8. However, this scenario may be cancelled if the price breaks the resistance at 7/8 to the upside. After that, the instrument may head towards the “overbought area” and reach 8/8.
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 trading downwards.
XAUUSD, “Gold vs US Dollar”
As we can see in the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to break 2/8 and then move downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow towards the next resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
