EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the 4/8 level, which means that it may resume moving downwards. The closest target for bears is at the 2/8 level. After reaching this level, the market may start a new local correction.
At the H1 chart, the 8/8 level provided resistance. To confirm a new decline, Super Trends have to form “bearish cross”. If they do, the market will continue falling to reach the 4/8 level.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair rebounded from the 3/8 level. If the price breaks Super Trends and stays above them in the nearest future, the market may move upwards to reach the 7/8 level.
As we can see at the H1 chart, after rebounding from the 2/8 level, the pair returned to the 3/8 one. It’s highly likely that on Friday Super Trends may form “bullish cross”. In this case, the market may continue moving upwards to reach the 6/8 level.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.