EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is moving not far from the resistance at 8/8. In this case, the price is expected to rebound from this level and then resume falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is moving above the 200-day Moving Average, thus confirming an ascending tendency. In this case, the price is expected to continue moving upwards to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may reverse and fall to reach the closest support at 6/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.
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.