EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating prevalence of an uptrend. The RSI is nearing the oversold area. Currently, we expect a test of 4/8 (1.0742), a bounce off it, and growth to the resistance level of 5/8 (1.0742). The scenario can be cancelled by a downward breakaway of the support level of 4/8 (1.0742), in which case the trend might reverse, and the price may drop to 3/8 (1.0620).
On M15, an additional signal confirming growth of the price 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, “Great Britain Pound vs US Dollar”
On H4, the quotes have broken through the 200-day Moving Average and are now below it, which indicates possible development of a downtrend. However, the RSI is in the oversold area. As a result, the quotes are expected to rise above 3/8 (1.2085) and then reach the resistance level of 4/8 (1.2207). The scenario can be cancelled by a downward breakaway of 2/8 (1.1962). In this case, the quotes should keep falling and reach 1/8 (1.1840).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of price growth to 4/8 (1.2207) 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.
- PBoC launches new stimulus for the economy. Silver hits two-month high Oct 18, 2024
- USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data Oct 18, 2024
- Week Ahead: Tesla kicks off Big Tech earnings Oct 18, 2024
- A strong Australian labor market report reinforced the RBA’s hawkish stance. Banks in Thailand and the Philippines cut interest rates Oct 17, 2024
- Inflationary pressures continue to ease in the UK and New Zealand Oct 16, 2024
- EUR/USD Continues Downward Amid Economic Uncertainties Oct 16, 2024
- India is experiencing a surge in inflation. US stock indices are once again updating historical highs. Oct 15, 2024
- Brent: Slumps on easing Middle East fears Oct 15, 2024
- USD/JPY Faces Resistance Amid Geopolitical and Economic Uncertainties Oct 15, 2024
- COT Metals Charts: Speculator Bets led by Steel & Palladium Oct 12, 2024
