EUR USD, “Euro vs US Dollar”
The EUR/USD updated the March’s high, but failed to break the 7/8 level. As a result, in the nearest future the market may move downwards to reach the 4/8 level. If later the price rebounds from this level, the pair may resume growing.
The lines at the H4 and H1 charts are completely the same. To confirm a new decline towards the 4/8 level, the price has to fix below the H4 Super Trend. However, if the pair breaks the above-mentioned level, the market will continue falling to reach its next targets.
USD CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair is consolidating above Super Trends, which formed “bullish cross” last week. In the nearest future, the market may continue growing towards the 7/8 level.
To confirm a new growth, the pair has to fix above the 5/8 level. If later the price rebounds from the 7/8 level, bears may start a new descending correction.
RoboForex Analytical Department