EUR/USD, “Euro vs. US Dollar”
In the H4 chart, after breaking the 200-day Moving Average to the downside, EURUSD is no longer consolidating. In this case, the price is expected to continue falling towards the closest support at 2/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 4/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline towards 2/8 from the H4 chart.
GBP/USD, “Great Britain Pound vs US Dollar”
In the H4 chart, after rebounding from 8/8, GBPUSD is expected to fall towards the support at 5/8. Another signal in favor of this idea will be a breakout of 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may recover and reach 8/8.
As we can see in the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.