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.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
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.
- AI Revolution and NVDA: Why Tough Going May Be Ahead Mar 28, 2024
- GBP Consolidates Amid Concerns Over Economic Growth and Wage Trends Mar 28, 2024
- The Australian and German indexes set all-time highs. The Reserve Bank of South Africa kept the rate at 8.25% Mar 28, 2024
- Target Thursdays: EURGBP, GBPUSD & Crude hit targets! Mar 28, 2024
- EURSEK: Hits fresh 2024 high at 200-day SMA Mar 27, 2024
- Australia has seen a decline in inflationary pressures. Japan may conduct currency intervention shortly Mar 27, 2024
- Australian Dollar Slides to Three-Week Low Mar 27, 2024
- Trade restrictions between the US and China are intensifying. Japan’s currency diplomats talk about possible intervention to support the yen Mar 26, 2024
- Japanese Yen Awaits Intervention Amid Weakness Mar 26, 2024
- NETH25 index chasing new record highs! Mar 26, 2024