EURUSD, “Euro vs US Dollar”
EURUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is nearing the support line. In this situation, a test of 1/8 (1.0864) is expected, followed by a rebound from this level and a price rise to the resistance at 2/8 (1.0986). The scenario could be cancelled by a downward breakout of 1/8 (1.0864), in which case the quotes might fall to 0/8 (1.0742).
On M15, after a rebound from 1/8 (1.0864) on H4, a further price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes have broken the 8/8 (1.2695) level on H4, exiting the overbought area. The RSI is testing the support line. In this situation, a further price decline to 6/8 (1.2573) is expected. The scenario could be cancelled by rising above the resistance at 8/8 (1.2695), in which case the pair might return to +1/8 (1.2756).
On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of a further price decline.
