EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating between Super Trends. Earlier, the price failed to fix above the 8/8 level after all. Consequently, in the nearest future the market may fall towards the 6/8 level. After reaching it, the pair may start a new ascending movement.
As we can see at the H1 chart, Super Trends formed “bearish cross”. On Friday, the pair may start a local correction, which may later be followed by the test of the 4/8 level. If the price rebounds from this level and fixes above the daily Super Trend, the market may resume growing.
USD CAD, “US Dollar vs Canadian Dollar”
In case of the USD/CAD pair, the lines at the daily and H4 charts are completely the same. The price rebounded from the 3/8 level three times, which means that it may start an ascending correction, at least. The closest target for bulls is at the daily Super Trend.
At the H1 chart, Super Trends may form “bullish cross” soon. In this case, the pair may start a short-term growth towards the 4/8 level.
RoboForex Analytical Department