EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the 4/8 level several times and resumed moving downwards. If later the price breaks the 3/8 level and the daily Super Trend and fixes below them, the market may continue falling towards the 2/8 one.
As we can see at the H1 chart, after the price rebounded from the 8/8 level and Super Trends formed “bearish cross”, the pair started moving downwards. On Tuesday, the local correction may take place, which may later be followed by another descending movement towards the 3/8 level.
GBP JPY “Great Britain Pound vs Japanese Yen”
Yesterday, after rebounding from the 5/8 level several times, the GBP/JPY pair reached a new local low. In the nearest future, the market may continue falling towards the 2/8 level. After reaching this level, the price may start a new ascending correction.
At the H1 chart, the 3/8 level provided resistance and, as a result, the pair resumed falling. In the nearest future, the short-term correction towards Super Trends may take place. If later the price rebounds from these levels, the pair may start a new decline and test the 0/8 one.
RoboForex Analytical Department