Euro-US Dollar keeps going with consolidation near the SuperTrend lines. Earlier we have seen a bouncing from the mark 5/8
, which gives us a hint on possible further price descending. The nearest bearish target is the level at 3/8
On 1 hour chart market shows pretty much the same dynamic near the middle of Murray indication formation. If we saw this pair breaking and settled below the mark 4/8
, then that might lead to the local price descending towards the level at 2/8
. And if we saw this level be broken as well there more serious drop might be expected.
AUD USD "Australian dollar vs US Dollar"
After double bouncing from the level at 2/8
there is a correction for Aussie. If the market kept its position below the mark at 3/8
and 4 hours SuperTrend line, then we would expect at the first place a downward movement towards the mark 0/8
On 1 hour chart market is traded near the mark at 2/8
and SuperTrend lines. So that if currency pair managed to come back and settled below those levels, then we would expect the start of another iteration for price descending with a target at the mark 2/8
as the nearest one.