EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has completed the correctional uptrend towards 2/8, just as expected. In this case, the price may break 1/8 and then continue trading downwards to reach the support at -1/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may start a new growth towards the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is still consolidating. In this case, GBPUSD is expected to rebound from 4/8 and then resume growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 3/8 and fixes below it. After that, the instrument is expected to continue falling to reach the support at 1/8.
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.
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.