EURUSD, “Euro vs US Dollar”
On H4, the quotations are trading under the 200-days Moving Average, which indicates a downtrend. The price is also bouncing off 1/8, which increases the chances for further falling. As a result, we expect a test of the support at 0/8, a breakaway of this level, and a decline to -1/8. The scenario can be canceled by rising above 1/8. In this case, the quotations can rise to 3/8.
On M15, another signal confirming the falling of the quotations will be a breakaway of the lower VoltyChannel line.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations have bounced off the resistance at 3/8. This means it might test 2/8, bounce off it, and drop to the support at 1/8. The scenario can be canceled by a breakaway of the resistance at 3/8 upwards. In this case, the quotations might rise to 5/8.
НOn M15, a breakaway of the lower VoltyChannel line will increase the probability of further falling.
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.