EUR USD, “Euro vs US Dollar”
Although the EUR/USD pair rebounded from the 7/8 level and the daily Super Trend, in the nearest future the current correction is expected to continue. If later the price rebounds from the 5/8 level, the market may test the above-mentioned levels again.
At the H1 chart, Super Trends are still influenced by “bearish cross”. During the day, the price may continue consolidating between the 6/8 and 2/8 levels. As a result, if the market rebounds from the latter level, the pair may start a short-term growth towards the local high.
USD CHF, “US Dollar vs Swiss Franc”
In case of the USD/CHF pair, the correction may yet continue as well. The local target for bulls is the 5/8 level. If the price rebounds from this level, it may continue falling towards the 3/8 one. In case the latter level provides resistance later, the market may resume moving upwards.
At the H1 chart, the pair may continue consolidating between the 6/8 and 2/8 level during the next several days. is supported by Super Trends. In the nearest future, the price is expected to test the 6/8 level. If the market rebounds from this level, the pair may start a short-term decline towards the previous low.
RoboForex Analytical Department