EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading below it. In this case, the price is expected to continue falling to reach the closest support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, after breaking 3/8, GBPUSD is trading below it. In this case, the price is expected to break the support at 2/8 and then continue the correction towards 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing and reach the resistance at 4/8.
As we can see in the M15 chart, the price has broken the downside 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.