EUR USD, “Euro vs US Dollar”
In case of the EUR/USD pair, the 7/8 level provides a strong resistance. If later the price fixes below the H4 Super Trend, the market may start a new local correction towards the 5/8 level and the daily Super Trend.
At the H1 chart, the pair is consolidating near the 5/8 level. If bears keep the price below this level, the price will start falling to reach the 2/8 one. After reaching it, the market may start a new ascending movement.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is trying to fix above the 3/8 level and the H4 Super Trend. Consequently, if bulls keep the price above these levels, the market will start moving upwards to reach the 4/8 level and the daily Super Trend.
As we can see at the H1 chart, the pair rebounded from the 1/8 level and resumed growing, and then Super Trends formed “bullish cross”. The closest local target is at the 6/8 level. If later the pair breaks this level, the market will continue moving upwards.
RoboForex Analytical Department