EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is expected to fall towards the support at the 0/8 level.
In the H1 chart, the pair is consolidating. If the price breaks the 3/8 level, the instrument may continue moving downwards to reach the support at the 0/8 one.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading to the downside.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD may break the 6/8 level and then continue falling towards the support at the 5/8 one. However, the price may yet test the 7/8 level first, rebound from it, and then resume falling to reach the 5/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
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.