EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 2/8 and then continue growing towards the resistance at 3/8. 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 0/8.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is also trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue moving upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue falling to reach the closest support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 4/8 from the H4 chart.
