EURUSD “Euro vs US Dollar”
On H4 EURUSD is consolidating, trading between 3/8 and 5/8. It is expected to test the resistance level at 5/8, possibly rebound and test the support at 3/8. The scenario may no longer be valid if the price breaks through 5/8, which may lead to growth up to the resistance at 6/8.
On M15 the price is trading between the VoltyChannel lines. In this situation, a breakthrough of the lower line might signal decline; conversely, a breakthrough of the upper line might signal growth.
GBPUSD “Great Britain pound vs US dollar”
On H4 the price is trading above the consolidating area. In this situation further growth up to the resistance level at 8/8 is expected. The scenario may no longer be valid if the price returns to the consolidating area, which might happen after a breakthrough of 5/8. This might lead to decline to the support at 3/8.
On M15 the price has broken through the upper line of the VoltyChannel, which signifies an ascending trend and a possibility of further growth.
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.