EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD may break the 7/8 level and then continue growing towards the resistance at the 8/8 one.
In the H1 chart, the pair is consolidating near the 5/8 level. In this case, the price is expected to fall towards the support at the 3/8 one.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards. However, if the price breaks the downside line, the instrument may quickly reverse.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to break the 3/8 level and then continue falling towards the support at the 1/8 one.
In the H1 chart, the price is also consolidating, but closer to the 3/8 level. As a result, the pair may break this level sooner than in the H4 chart and then continue trading downwards to reach the first target at the 1/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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.