Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading below, thus indicating a descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 2/8. Still, 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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GBPUSD, “Great Britain Pound vs US Dollar”
On the H4 chart, after breaking the 200-day Moving Average, GBPUSD is also trading below it to indicate a possible descending tendency. In this case, the price is expected to break 3/8 and continue falling to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.
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 its decline to reach 2/8 from the H4 chart.
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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