EURUSD
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support level. Currently, growth above 7/8 (1.0620) is expected, followed by growth to the resistance level of 8/8 (1.0742). The scenario can be cancelled by a breakaway of the support level of 6/8 (1.0498). In this case, the pair may drop to 5/8 (1.0376).
On M15, an additional signal confirming growth will be a breakaway of the upper border of VoltyChannel.
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
On H4, the quotes are also above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has risen above the resistance level. So, an upward breakaway of 6/8 (1.2207) is expected, followed growth to the resistance level of 7/8 (1.2451). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1.2207), which might lead to a trend reversal and falling to 4/8 (1.1718).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of price growth to 7/8 (1.2451) on H4.
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.
- Profit-taking is observed on stock indices. The data on wages in Australia haven’t met expectations Nov 13, 2024
- USD/JPY at a Three-Month Peak: No One Opposes the US Dollar Nov 13, 2024
- Can Chinese Tech earnings offer relief for Chinese stock indexes? Nov 13, 2024
- Bitcoin hits an all-time high above $88,000. Oil remains under pressure Nov 12, 2024
- Brent Crude Stumbles as Market Sentiments Turn Cautious Nov 12, 2024
- Bitcoin hits new record high just shy of $82,000! Nov 11, 2024
- The Dow Jones broke the 44 000 mark, and the S&P 500 topped 6 000 for the first time. The deflationary scenario continues in China Nov 11, 2024
- AUD/USD Stabilises as Traders Await Economic Signals Nov 11, 2024
- COT Metals Charts: Speculator Bets led lower by Gold, Silver & Platinum Nov 10, 2024
- COT Bonds Charts: Speculator Bets led by SOFR 1-Month & 10-Year Bonds Nov 10, 2024
