EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading above 5/8. In this case, the price is expected to continue trading upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside and fixes below it. After that, the instrument may continue falling towards 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 downwards to reach 6/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is moving above 5/8 as well. In this case, the price is expected to break 6/8 and continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue falling towards 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.
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.