EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is trading close to the 5/8 level. The price is expected to rebound from it and then resume growing towards the resistance at the 8/8 one (1.1962).
As we can see at the H1 chart, the price may break the 3/8 level and start forming a new ascending impulse with the first target at the 5/8 level. The main upside target is at 1.1962).
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1.1962.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is trading inside the “overbought zone”. If the price breaks the 8/8 level, the instrument will continue falling towards the 5/8 one.
Unlike the H4 chart, here the pair is expected to move upwards. Right now, the price is consolidating. If later the pair breaks the 5/8 level, it may grow towards the resistance at the 8/8 one; if the 3/8 level – continue moving downwards to reach the support at the 0/8 one.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.