EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is trading close to the downside border of the consolidating range at the 3/8 level at 1.1657. If the price breaks it, the instrument may move upwards to reach the 5/8 one at 1.1779.
As we can see at the H1 chart, the pair has broken the 5/8 level at 1.1627 and fixed above it, which means that is may continue growing towards 1.1779. Possibly, the price may test the 5/8 level one more time.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and fixed above it and, as a result, may continue moving upwards to reach 1.1779.
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, there are two possible scenarios. The first one (more likely) implies that the AUD/USD pair may break the 2/8 level at 0.7690, continue moving towards the downside border of the consolidation range at the 3/8 level at 0.7751 to break it, and then grow to reach the 5/8 level one at 0.7873. The second scenario (an alternative one) suggests that the price may be corrected towards the support at the 0/8 level at 0.7568, rebound from it, and then resume growing to reach the 3/8 and 5/8 ones at 0.7751 and 0.7873 respectively.
As we can see at the H1 chart, the pair is trading between the 3/8 and 4/8 levels. Breaking one of these levels will define the future scenario of price movement. If the price breaks the 3/8 level at 0.7675, it may fall to reach 0.7558; if the 4/8 one at 0.7690 – move upwards with the target at 0.7751.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing towards 0.7751.
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.