Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, after breaking 5/8, AUDUSD is back to consolidating. In this case, the price is expected to test 4/8, break it, and then continue moving downwards to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 6/8.
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.
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NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks the support at 4/8 to the downside. In this case, the instrument may continue falling towards 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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