USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes have broken the 200-day Moving Average and now rest above it, revealing the probability of an uptrend development. However, the RSI has reached the overbought area. As a result, a test of 6/8 (0.8667) is expected, followed by a rebound from this level and a decline to the support at 4/8 (0.8544). The scenario could be cancelled by rising above the resistance at 6/8 (0.8667). In this case, the pair could continue growing to the 8/8 (0.8789) level.
ON M15, after a rebound from the 6/8 (0.8667) level on H4, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
XAUUSD, “Gold vs US Dollar”
Gold quotes and the RSI on H4 are nearing their respective oversold areas. In these circumstances, a test of 0/8 (2000.00) is expected, followed by a rebound from this level and a price rise to the resistance at 2/8 (2031.25). The scenario could be cancelled by a downward breakout of the support at 0/8 (2000.00), in which case the quotes could drop to -1/8 (1984.38).
On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
