The instrument is trading at the upper border of the consolidation area. A decline to the support at 3/8 is expected. The scenario may no longer be valid if the price breaks through 6/8, in which case it may renew recent maximums and test the resistance line at 8/8.
On M15 a breakthrough of the lower line of the VoltyChannel may signal a possible decline to the support at 3/8 from the H4.
On H4 another bearish attempt to break through 3/8 failed. Currently, the instrument grows more and more bullish, which may lead to growth up to the resistance at 4/8. The scenario may no longer be valid if the price breaks 3/8, which may lead to a further decline to the support at 2/8.
On M15 the upper line of the VoltyChannel has been broken, which makes growth of the instrument more possible.
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.