EUR USD, “Euro vs US Dollar”
After breaking the 8/8 level to the upside yesterday, the EUR/USD pair is trying to break it downwards. As a result, if the price succeeds and fixes below this level, the market may start a new descending correction. In this case, the closest target for bears will be at the daily Super Trend.
As we can see at the H1 chart, the pair failed to break the 1/8 level and, as a result, started a correction. If bears keep the price below the 8/8 level, the pair may start a short-term decline towards the 6/8 one. If the latter level is broken as well, the market may continue falling much deeper.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
The NZD/JPY pair rebounded from the 2/8 level and, as a result, Super Trend formed “bearish cross”. Consequently, if the price breaks the 0/8 level and fixes below it, in the future the market may continue falling to reach the -2/8 one.
At the H1 chart, the 4/8 level provided resistance and the pair resumed falling. If the price rebounds from Super Trends during the day, the market may continue moving downwards to reach the -2/8 level.
RoboForex Analytical Department