USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are under the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 2/8 (0.8911) is expected, followed by a decline to the support at 1/8 (0.8850). The scenario can be cancelled by a rise above the resistance at 3/8 (0.8972). In this case, the pair could return to 4/8 (0.9033).
On M15, the lower line of the VoltyChannel is broken. This increases the probability of a further price decline.
XAUUSD, “Gold vs US Dollar”
XAUUSD quotes are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the oversold area. In these circumstances, a test of 1/8 (1906.25) is expected, followed by a breakout and a decline to the support at 0/8 (1875.00). The scenario can be cancelled by rising above the resistance at 2/8 (1937.50), which might make gold quotes rise to 3/8 (1968.75).
On M15, the lower line of VoltyChannel is broken, which confirms the presence of a downtrend and increases the probability of a further price decline.
