EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, yesterday EURUSD rebounded from the resistance at 3/8. In this case, the price is expected to continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, move downwards to reach the support at 0/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading above 5/8. In this case, the pair is expected to test the resistance at 7/8, rebound from it, and then resume falling to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 5/8 and fixes below it. After that, the instrument may continue trading downwards to reach the support at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator once again and, as a result, continue the descending tendency.
