EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading above the 5/8 level. In this case, the pair is expected to test the 6/8 level, rebound from it, and then start a new growth to reach the resistance at the 8/8 one. However, this scenario may no longer be valid if the price breaks the 6/8 level. In this case, the instrument may resume moving downwards to reach the support at the 4/8 level.
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 downwards. However, if the price breaks the downside one, the instrument may start a new correction.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has broken the 0/8 level and is no longer trading inside the “oversold area”. In this case, the pair is expected to grow towards the resistance at the 2/8 level. However, this scenario may be cancelled if the price breaks the 0/8 level. In this case, the instrument may resume falling to reach the support at the -1/8 one.
In the H1 chart, the pair may break the 5/8 level and continue trading upwards to reach the resistance at the 8/8 one.
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.