EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is expected to continue growing towards the resistance at the 6/8 level. However, an alternative scenario implies that the price may test the 5/8 level first, rebound from it, and then move upwards to reach the main target.
As we can see at the H1 chart, the price is trading close to the 3/8 level. In case the pair breaks it, the instrument may continue growing towards the 4/8 and 5/8 ones. However, the price may yet try to test the 2/8 level.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, yesterday the GBP/USD pair rebounded from the 5/8 level and right now is trading close to the 6/8 one. If later this level is broken, the instrument may continue growing to reach the 7/8 one.
At the H1 chart, the price is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 3/8 level, rebound from it, and then continue growing to reach the 6/8 one.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.
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.