EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is approaching the “oversold area”. In this case, the price is expected to test 0/8, rebound from it, and then resume growing to reach the resistance at 2/8. Still, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may fall towards -1/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 0/8 in the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading at 0/8. In this case, the price is expected to rebound from this level and then resume growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may fall to re-test the support at -1/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume trading upwards only after rebounding from 0/8 in the H4 chart.
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.