USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes have broken the 200-day Moving Average on H4 and currently found themselves below the line, indicating probable development of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 3/8 (0.8977) could be expected, followed by a rebound from it and a rise to the resistance at 5/8 (0.9094). The scenario can be cancelled by a downward breakout of 3/8 (0.8977). In this case, the quotes might continue growing, and the quotes could drop to the support at 2/8 (0.8911).
On M15, the upper boundary of the VoltyChannel is too far from the current price, so the growth of the quotes could only be indicated by a rebound from the 3/8 (0.8977) level on H4.
XAUUSD, “Gold vs US Dollar”
Gold quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is in the overbought area. In these circumstances, a test of 5/8 (1890.62) is expected, followed by a rebound from it and a decline to the support level of 3/8 (1859.38). The scenario can be cancelled by rising above 5/8 (1890.62), which might reverse the trend and make gold quotes grow to the resistance at 6/8 (1906.25).
On M15, after a rebound from 5/8 (1890.62), the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
