EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the H4 Super Trend, which means that the ascending correction may yet continue. The closest target for bulls is at the 1/8 level. After reaching it, the market may start a new descending movement.
As we can see at the H1 chart, the 7/8 level provided support. If the price fixes above the 8/8 level inside the “overbought zone” during the day, the pair may continue growing towards the 2/8 one.
USD CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair is forming the local descending correction, during which Super Trends formed “bearish cross”. The closest target is at the 3/8 level, which provided support earlier. If later the price rebounds from this level, bulls may try to reverse the market to the upside.
At the H1 chart, the pair managed to fix below Super Trends. On Wednesday, the price may test the 2/8 level. If later the price rebounds from this level and fixes above Super Trends, the market may resume growing.
RoboForex Analytical Department