EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating above the H4 Super Trend. If the price stays above it, the market may continue moving upwards. The closest target is at the 1/8 level.
As we can see at the H1 chart, the pair is consolidating between the 1/8 and 7/8 levels. If the latter level provides supports again during the day, the price may reach a new local high. After the market breaks the 2/8 level, the lines at the chart will be redrawn.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating in the middle of the H4 chart. If the price stays below the H4 Super Trend, it may reach the 2/8 level. After rebounding from this level, the market may start an ascending correction.
At the H1 chart, the pair is consolidating inside the “oversold zone”. On Thursday, the price may test the 0/8 level and the closest Super Trend. In case it rebounds from these levels, the market may resume falling and reach the -2/8 one.
RoboForex Analytical Department