EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trying to fix below the 5/8 level and the H4 Super Trend. If the price succeeds, the pair will continue falling towards the 3/8 level. After reaching this level, the market may start a new correction.
As we can see at the H1 chart, the pair rebounded from the 4/8 level again. To confirm a new decline, Super Trends have to form “bearish cross” in the nearest future. The closest target is at the -1/8 level.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair rebounded from the 4/8 and the daily Super Trend. As a result, on Wednesday the price may test the 8/8 level. If later the pair breaks this level, bulls will continue pushing the price towards the 2/8 one.
At the H1 chart, the pair rebounded from the 8/8 level. It’s highly likely that Super Trends may form “bullish cross” soon. However, if later the price rebounds from the 4/8 level, the market may start a new local correction.
RoboForex Analytical Department