EURUSD, "Euro vs. US Dollar"
As we can see at the H4 chart, the EUR/USD pair has broken the 3/8 level at 1.1901 to the downside and left the consolidation channel. In this case, the most probable scenario implies that the price may fall towards the support at the 0/8 level at 1.1718. However, this scenario may be cancelled if the pair breaks the 3/8 level to the upside. In this case, the instrument may grow to reach first target at the 5/8 level at 1.2023.
At the H1 chart, the pair may rebound from the 2/8 at 1.1901 and continue falling towards 1.1718. However, the current descending movement may face a serious resistance at the 0/8 level at 1.1840. If the pair rebounds from the 0/8 level, the instrument may resume growing to reach 1.2085.
XAUUSD, "Gold vs US Dollar"
As we can see at the H4 chart, the XAU/USD pair is still trading to the downside to reach the target at the 3/8 level at 1296.88.
At the H1 chart, the price may be corrected towards the 2/8 level at 1328.13. in case the price reaches this level, one should wait until it rebounds and open a position only after that. If the price breaks the 1/8 level at 1320.31, the instrument may continue falling without testing the 2/8 one at 1328.13.
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.