EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is no longer moving inside the “oversold area”. In this case, the price is expected to continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside again. After that, the instrument may continue falling to reach the closest support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is moving not far from the above 200-day Moving Average. In this case, the price is expected to fix above 2/8 and then continue trading upwards to reach the closest resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling to reach the support at 0/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 3/8 from the H4 chart.
