Murrey Level Analysis for EUR/USD and GBP/USD: July 16, 2018
EUR/USD
On H4, the EUR/USD is back to a consolidation range, while we can expect the price to rise to the 5/8 resistance.
On H1, the price has broken out the 3/8 level, which may be followed with the further rise till the first target at 5/8.
On M15, the upper VoltyChannel line has been broken out, which signals a likely price rise.
GBP/USD
On H4, the GBP/USD is trading within a consolidation range between 3/8 and 5/8. Once 5/8 gets broken out, the price may rise further to reach the resistance at 8/8.
On H1, 1/8 breakout may lead to further growth till the resistance at 3/8.
On M15, the upper VoltyChannel line has been broken out, which signals a likely price rise.
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.