EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is expected to break the 5/8 level and then continue falling to test the support at the 4/8 one.
At the H1 chart, the price is expected to test the 5/8 level. In case the pair breaks it, the instrument may continue falling towards the 4/8 one. Otherwise, the price may grow to reach the resistance at the 8/8 level.
As we can see at the M15 chart, the pair is trading below the downside line of the VoltyChannel indicator, which means that it may continue moving downwards.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair may break the 7/8 level and continue moving upwards to reach the resistance at the 8/8 one.
The lines at the H4 and H1 charts are completely the same and confirm the scenario described above.
As we can see at the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, 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.