EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading not from the “oversold area”. In this case, the price is expected to rebound from 0/8 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 the support at -2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is still expected to test 4/8, break it, and then continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may correct to reach the resistance at 6/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may 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.