EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 7/8 and then resume growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may correct towards the support at 6/8.
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 its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is also trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 6/8 and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling to reach 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 the ascending tendency towards 7/8 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.