EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is still trading inside the “oversold area”. Last Friday, the market attempted to break the area but failed to fix above 0/8. In this case, the pair may continue falling towards the support at -2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach -2/8 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 main scenario implies that the pair is expected to continue falling towards the support at -2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.