EURUSD, “Euro vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which reveals possible development of a downtrend. The RSI has broken through the support level. We should expect a downward breakaway of 3/8 (1.0620) and falling to the support level of 2/8 (1.0498). The scenario can be cancelled by rising over the resistance level of 4/8 (1.0742). In this case, the pair may rise to 5/8 (1.0864).
On M15, the lower line of VoltyChannel is broken away, increasing the probability of falling..
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates possible development of a downtrend. The RSI has broken through the support level. As a result, we expect a test of 2/8 (1.1962), break through it and fall to the support level of 1/8 (1.1840). The scenario can be cancelled by an upward breakaway of the resistance level of 3/8 (1.2085). This might make the pair grow to 4/8 (1.2207).
On M15, the lower line of VoltyChannel is broken away, which reveals prevalence of a downtrend and increases 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.