EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 3/8.
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, after breaking the 200-day Moving Average, GBPUSD is trading above it, thus indicating an ascending tendency. In this case, the price is still expected to break 4/8 and then continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may fall to reach 2/8.
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 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.