EUR USD, “Euro vs US Dollar”
After rebounding from the 8/8 level, the EUR/USD pair started a new descending correction. If later the price rebounds from the daily Super Trend, the market may resume growing towards the 1/8 level.
At the H1 chart, the target of the current correction is the 5/8 level. If later the pair rebounds from this level, the price may start a new growth. The closest short-term target for bulls is at the 8/8 level.
GBP JPY “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair rebounded from the H4 Super Trend and started growing. In the nearest future, the market is expected to complete the local correction and then continue moving towards the 7/8 level.
As we can see at the H1 chart, bulls broke the 4/8 level. It’s highly likely that later the pair may continue moving upwards. If the price rebounds from the 6/8 level, the market may start a new descending correction.
RoboForex Analytical Department