EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading inside the “oversold zone” below the 0/8 level. The price may resume growing only if it breaks the -1/8 level. In this case, the target will be at the 0/8 one.
In the H1 chart, the instrument may break the -1/8 level and grow to reach the 0/8 one. Another scenario implies that the pair may break the -2/8 level. In this case, the lines in the chart will be redrawn.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is expected to break the 2/8 level and continue falling towards the 1/8 one.
As we can see in the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1.3793.
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.