EUR/USD
The EUR/USD on its H4-chart has completed a false brekout of the resistance level 8/8. Yet another attempt to reach the 8/8 level (1.1718) is expected. When this level is achieved, a rebound and downward move towards 5/8 (1.1535) is expected.
On the H1-chart price is standing at 1.1718 level, and this is a resistance level 8/8. This suggests a possible rebound from this level and subsequent downward move to 1.1535.
The M15-chart shows when price gets close to 1.1718, a breakout of the lower line of VoltyChannel indicator is possible, and this can lead to a downward move towards 1.1535.
USD/JPY
On the H4-period the USD/JPY pair has failed to hold inside the 3/8 - 5/8 channel, and this suggests a possible downward move towards the support level 8/8 (109.37).
On the M15-chart the lower line of VoltyChannel indicator has been broken, and this can trigger a further downward move from the current level towards 109.37.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.