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 continue growing towards 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may reverse and fall to reach 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 trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is also moving above the 200-day Moving Average, thus confirming an ascending tendency. In this case, the price is expected to continue moving upwards to reach the closest resistance at 5/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and correct downwards to reach the support at 3/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing towards 5/8 in the H4 chart.
