EURUSD, “Euro vs US Dollar”
On H4, the quotes have broken through the 200-day Moving Average and are going above it, which signifies possible development of an uptrend. However, the RSI is nearing the overbought area. As a result, we should expect a test of 2/8 (1.0009), a bounce off it, and falling to the support level of 0/8 (0.9765). The scenario can be cancelled by an upward breakaway of the resistance level of 2/8 (1.0009). This may lead to further growth of the pair to 3/8 (1.0131).
On M15, an additional signal confirming the decline will be a breakaway of the lower border of VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes have broken through the 200-day Moving Average and are going below it, which signifies possible development of a downtrend. The RSI is testing the resistance line. Currently, we should expect a downward breakaway of the support level of 6/8 (1.1230) and falling to 5/8 (0.0986). The scenario can be cancelled by an upward breakaway of the resistance level of 7/8 (1.1474). In this case, the pair may reach 8/8 (1.1718).
On M15, a breakaway of the lower line of VoltyChannel will increase the probability of price falling to 5/8 (0.0986) on H4.
Source: Roboforex
