On H4 the instrument has bounced of the strong resistance line at 8/8 and is now trading below 7/8. In this situation further decrease to the support at 5/8 is expected. The scenario will no longer be valid is 7/8 is broken through, which may entail growth to the resistance at 8/8.
On M15 the lower line of the VoltyChannel is broken. This signifies prevalence of a descending trend and enhances the possibility of further decline.
On H4 the instrument has failed to break through the weak resistance line at 7/8. This signifies a possible reversal of the ascending trend and a decline towards the support at 4/8. The scenario will no longer be valid if 7/8 is broken, which may provoke growth of the pair to the resistance at 8/8.
On M15 the lower line of the VoltyChannel is broken. This increases the possibility of further decline.
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.