EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may correct and reach 3/8.
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 its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is moving within the “overbought area”. In this case, the asset is expected to test 8/8, break it, and then continue falling towards the support at 7/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing to reach the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
