EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is moving below 3/8. In this case, the price is expected to continue trading downwards to reach the first target at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.
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 trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is trading above 5/8. In this case, GBPUSD is expected to break 6/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 and fixes below it. After that, the instrument is expected to continue falling to reach the support at 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 to reach 8/8 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.