On H4 EURUSD is trading in a descending channel. In this situation a breakaway of 3/8 may lead to correction growth to the resistance at 4/8. A breakaway of 2/8 may signal continuation of the downtrend, which may result in a fall to the support at 0/8.
On M15 a breakaway of the lower line of the VoltyChannel may increase the possibility of further price decline.
On H4 the instrument is also trading in a downtrend. A breakaway of 5/8 may result in a trend reversal and growth to the resistance at 7/8. A breakaway of 3/8 may signal continuation of the trend, leading to a decrease to the support at 1/8.
On M15 the lower line of the VoltyChannel is broken. This signals predominance of the downtrend and a high 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.