EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating between 3/8 and 5/8. In this case, the price may continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the range to the upside. After that, the instrument may resume moving upwards to reach the resistance at 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading at 5/8. In this case, there are two possible scenarios. The first scenario implies that the pair may break 5/8 and continue falling to reach the support at 3/8. According to the second scenario, the price may break 6/8 and then continue moving upwards to reach the resistance at 8/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards. However, the descending tendency may prevail as long as the instrument is moving below the above-mentioned line.
