EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading inside the “oversold area”. In this case, the pair may break 0/8 and then continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart of GBPUSD, the situation is similar. The pair is moving inside the “oversold area”. In this case, it is also expected to break 0/8 and grow towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach the resistance at 1/8.
