EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling towards 1.1596. 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.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is moving below 3/8. In this case, the price is expected to break 2/8 and then continue trading downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing to reach the closest resistance at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 0/8 from the H4 chart.
