EUR/USD, “Euro vs US Dollar”
EUR/USD are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the support line. In this situation, a downward breakout of 2/8 (1.0498) is expected, followed by a decline to the support at 1/8 (1.0376). The scenario can be cancelled by the price rising above the resistance at 3/8 (1.0620), which might provoke the price to grow to 4/8 (1.0742).
On M15, a breakout of the lower boundary of the VoltyChannel could become an additional signal confirming the price drop.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD are in the oversold area on H4. The RSI is nearing the support line. In this situation, a test of -1/8 (1.2146) is expected, followed by a rebound from it and a price rise to the resistance at 2/8 (1.2329). The scenario can be cancelled by a downward breakout of the -1/8 (1.2146) level. In this situation, the pair could continue falling and reach the support at -2/8 (1.2085).
On M15, the upper boundary of the VoltyChannel is too far from the current price, which means the growth of the quotes can only be supported by a rebound from the -1/8 (1.2146) level on H4.
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 stabilizes near 1.0850 ahead of US PCE inflation data
![EUR/USD stabilizes near 1.0850 ahead of US PCE inflation data](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/money-euro-and-dollar-banknotes-17371247_XtraSmall.jpg)
EUR/USD clings to small daily gains at around 1.0850 during the European trading hours on Friday. The pair stays underpinned by the renewed US Dollar weakness, as risk sentiment rebounds ahead of the key US PCE inflation data.
GBP/USD stays firm above 1.2850, US PCE data awaited
![GBP/USD stays firm above 1.2850, US PCE data awaited](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/strong-pound-weak-dollar-17536259_XtraSmall.jpg)
GBP/USD is holding mild gains above 1.2850 in the first half of the day on Friday, helped by a broadly weaker US Dollar amid a risk reset. Following Thursday's US GDP report, market focus shifts to Personal Consumption Expenditures Price Index data for June.
Gold clings to gains near $2,370 as markets await key US data
![Gold clings to gains near $2,370 as markets await key US data](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/gold-gm187363896-28836378_XtraSmall.jpg)
Gold recovers modestly and trades at around $2,370 after finding support near $2,350 on Thursday. Traders now shift their focus toward the monthly release of the US PCE Price Index after Thursday’s second-quarter GDP.
Avalanche price sets for a rally following retest of key support level
![Avalanche price sets for a rally following retest of key support level](https://editorial.fxstreet.com/images/Avalanche/Avalanche_XtraSmall.jpg)
Avalanche (AVAX) price bounced off the $26.34 support level to trade at $27.95 as of Friday. Growing on-chain development activity indicates a potential bullish move in the coming days.
US core PCE annual inflation seen lower in June, reinforcing the case of a Federal Reserve's cut
![US core PCE annual inflation seen lower in June, reinforcing the case of a Federal Reserve's cut](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/DollarIndex/100-bills-background-1855591_XtraSmall.jpg)
The United States will release June Personal Consumption Expenditures Price Index figures on Friday. The Federal Reserve’s favourite inflation gauge will be released by the US Bureau of Economic Analysis (BEA) at 12:30 GMT.