EURUSD, “Euro vs US Dollar”
On H4, EURUSD quotes are above the 200-day Moving Average, which reveals the prevalence of an uptrend. The RSO is testing the support line. The quotes are currently expected to rise above 5/8 (1.0803) and reach the resistance at 6/8 (1.0864). The scenario can be canceled by a downwards breakout of the support at 4/8 (1.0742), which might lead to a trend reversal and a decline to the level of 3/8 (1.0681).
On M15, the upper line of the VoltyChannel indicator is too far away of the current price, so further growth of the quotes can be triggered by a breakout of 5/8 (1.0803) on H4.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is nearing the oversold area. In these circumstances, we expect a test of 4/8 (1.2207), a rebound from it, and growth to the resistance at 6/8 (1.2451). The scenario can be canceled is the price breaks the level of 4/8 (1.2207) downwards. In this case, the pair may drop to the support at 3/8 (1.2085).
On M15, after a rebound from 4/8 (1.2207), an additional trigger for the growth of the quotes will be a breakout of the upper border of VoltyChannel.
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.