RoboForex
EUR/USD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 1/8. Still, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and correct up to 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBP/USD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 2/8 and continues falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks the resistance 3/8 to the upside. After that, the instrument may grow towards the next resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
Source: FXStreet – RoboForex Team
Related posts:
Forex technical analysis and forecast: Majors, equities and commodities
USD/CHF Stretches Winning Streak To 2-Year High; Is The Rally Overdone?
Gold and silver at the lower limits
Technical analysis: AUD/USD around 0.7100 mark but bearish risks linger
Most of the instruments locked inside of the sideways trends ahead of the of the FOMC (Video)
GBP/USD outlook: BoE is on course for 0.25% hike but traders focus on signals about cb’s future steps
Sterling slides on growth concerns, FTSE 100 edges up to a one week high
Stocks in a bind post-Fed
