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. However, the asset has already reached the downside border of its consolidation range. In this case, the price is expected to rebound from 3/8 and then resume growing to reach the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards the closest 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”
As we can see in the H4 chart, GBPUSD is trading at the 200-day Moving Average. In this case, the price is expected to rebound from 1/8 and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling and reach the support at 0/8.
In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 3/8 from 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.