EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, GBPUSD is trading above it, thus indicating an ascending tendency. In this case, the price is still expected to break 4/8 and then continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may fall to reach 2/8.
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 downwards.
