EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading above 5/8. In this case, the price is expected to continue trading upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside and fixes below it. After that, the instrument may continue falling towards the support at 4/8.
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 downwards to reach 6/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is moving above 5/8 as well. In this case, the price is expected to break 6/8 and continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue falling towards the support at 3/8.
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.
