EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading above the 5/8 level and may resume growing towards the resistance at the 7/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is still trading inside the “oversold zone”. In this case, the price may break the 0/8 level and then continue growing towards the resistance at the 1/8 one.
However, as we can see in the H1 chart, the pair has rebounded from the resistance at the 8/8 level several times and may resume moving downwards to reach the 5/8 one. As long as the price is trading below the 8/8 level, it may rather fall than grow.
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.