EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading not from the “oversold area”. In this case, the price is expected to rebound from 0/8 and then resume growing to reach the resistance at 2/8. Still, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may fall towards 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 its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is still expected to test 4/8, break it, and then continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may correct to reach the resistance at 6/8.
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 trading downwards.
