rfxsignals June 7, 2021 No Comments

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at +1/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue falling towards 4/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue its growth.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after breaking 8/8 to the downside, GBPUSD is no longer trading within the “overbought area”. In this case, the asset is expected to test 7/8, break it, and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside again. After that, the instrument may continue trading upwards to reach the resistance at +2/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future