EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading below 1/8. In this case, the pair may continue falling towards the support at -1/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.
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 moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is moving below 3/8. The main scenario implies that the pair is expected to rebound from this level and then resume falling towards the support at 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 to reach 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency towards the support at 1/8.
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.