EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to test the resistance at 3/8, break it, and then continue growing to reach 4/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may reverse and fall towards the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall to reach the support at 5/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth towards 8/8 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.