USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF quotes have broken the 8/8 (0.8789) level, escaping the overbought area on H4. The RSI is testing the support line. In this situation, a further decline to the support at 6/8 (0.8667) is expected. The scenario could be cancelled by rising above the resistance at +1/8 (0.8850), in which case, the quotes could rise to +2/8 (0.8911).
On M15, the price decline might be supported by a breakout of the lower boundary of the VoltyChannel.
XAU/USD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the 3/8 (2046.88) level might break, so that the quotes could rise to 4/8 (2062.50). The scenario might be cancelled by a downward breakout of the support at 2/8 (2031.25), in which case, gold quotes might drop to the 1/8 (2015.62) level.
On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a further price rise.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD stays in positive territory above 1.0850 after US data
EUR/USD clings to modest daily gains above 1.0850 in the second half of the day on Friday. The improving risk mood makes it difficult for the US Dollar to hold its ground after PCE inflation data, helping the pair edge higher ahead of the weekend.
GBP/USD stabilizes above 1.2850 as risk mood improves
GBP/USD maintains recovery momentum and fluctuates above 1.2850 in the American session on Friday. The positive shift seen in risk mood doesn't allow the US Dollar to preserve its strength and supports the pair.
Gold rebounds above $2,380 as US yields stretch lower
Following a quiet European session, Gold gathers bullish momentum and trades decisively higher on the day above $2,380. The benchmark 10-year US Treasury bond yield loses more than 1% on the day after US PCE inflation data, fuelling XAU/USD's upside.
Avalanche price sets for a rally following retest of key support level
Avalanche (AVAX) price bounced off the $26.34 support level to trade at $27.95 as of Friday. Growing on-chain development activity indicates a potential bullish move in the coming days.
The election, Trump's Dollar policy, and the future of the Yen
After an assassination attempt on former President Donald Trump and drop out of President Biden, Kamala Harris has been endorsed as the Democratic candidate to compete against Trump in the upcoming November US presidential election.