EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking the upside border of the consolidation range at 5/8, EURUSD is expected to continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling to reach 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is consolidating at 5/8. The main scenario implies that the pair may break this level to the upside and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks at 5/8 to the downside. After that, the instrument may continue falling to reach the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 6/8 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.