EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue falling towards 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 its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading within the “overbought area”. In this case, the price is expected to rebound from 1/8 and then resume falling towards the support at 8/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing and reach the resistance at 2/8.
In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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.