Article By RoboForex.com
USDCHF, “US Dollar vs Swiss Franc”
In the H4 chart, USDCHF is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to continue growing towards the closest resistance at 6/8. Still, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may correct downwards and reach the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
XAUUSD, “Gold vs US Dollar”
In the H4 chart, XAUUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test the resistance at 3/8, rebound from it, and resume falling to reach 2/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue correcting to the upside towards the resistance at 4/8.
As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from 3/8 from the H4 chart.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- TSLA shares rose on a weak report. Inflationary pressures are easing in Australia Apr 24, 2024
- USDJPY: On intervention watch Apr 24, 2024
- Euro gains against the dollar amid mixed economic signals Apr 24, 2024
- PMI data is the focus of investors’ attention today. Turkey, Iraq, Qatar, and UAE signed a transportation agreement Apr 23, 2024
- Australian dollar rises on strong economic indicators Apr 23, 2024
- Geopolitical risks in the Middle East are declining. China kept interest rates at lows Apr 22, 2024
- Brent crude dips to four-week low amid easing geopolitical tensions Apr 22, 2024
- COT Metals Charts: Speculator bets led by Copper & Silver Apr 20, 2024
- COT Bonds Charts: Speculator bets led by 10-Year Bonds & Fed Funds Apr 20, 2024
- COT Stock Market Charts: Speculator bets led by S&P500-Mini Apr 20, 2024