EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to continue falling to reach the support at -1/8. Still, this scenario may no longer be valid if the price breaks the resistance at 1/8 to the upside. After that, the instrument may reverse and correct up to 3/8.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is approaching the “oversold area”. In this case, the price is expected to test 0/8, rebound from it, and then resume growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks the resistance 1/8 to the upside. After that, the instrument may correct towards the resistance at 2/8 without testing the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
Source: Roboforex
