Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. A breakaway of 5/8 downwards is expected, followed by falling to the support level of 3/8. The scenario can be cancelled by rising over the resistance level of 6/8, which might lead to a trend reversal and growth to 7/8.
On M15, falling can be additionally supported by a breakaway of the lower border of VoltyChannel.
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GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. A downward breakaway of the support level of 3/8 should be expected, followed by further falling to 2/8. The scenario can be cancelled by an upward breakaway of the resistance level of 4/8. If it happens, the pair might rise to 5/8.
On M15, a breakaway of the VoltyChannel lower border will increase the probability of further price falling.
Article By RoboForex.com
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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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