USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 5/8 level, rebound from I, and then resume falling to reach the support at the 4/8 one.
As we can see in the H1 chart, the pair is trading inside the “overbought zone” above the 8/8 level. If the price breaks the +1/8 level, the instrument may resume moving downwards to reach the support at the 7/8 one.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD may rebound from the 2/8 level and resume falling towards the support at the 0/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above. However, the pair may yet test the resistance at the 3/8 level, rebound from it, and then resume moving downwards to reach the support at the 0/8 one.
RoboForex Analytical Department