EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which means the uptrend is prevailing. The RSI is nearing the support line. A test of 4/8 (1.0253) should be expected, followed by a bounce off it and growth to the resistance level of 6/8 (1.0498). The scenario can be cancelled by a breakaway of the support level at 4/8 (1.0253) downwards. In this case, the pair will go on declining, probably to 2/8 (1.0009).
On M15, The upper line of VoltyChannel is too far away from the current price, which means growth can be signaled only by a bounce off 4/8 on H4.
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GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are in the overbought area. The RSI has bounced off the descending trendline. A downward breakaway of the support level of 8/8 (1.1718) is expected, followed by falling to 7/8 (1.1474). The scenario can be cancelled by rising over the resistance level of +1/8 (1.1962). In this case, the pair may rise to +2/8 (1.2207).
On M15, the lower line of VoltyChannel is broken away. This increases the probability of further price falling.
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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