EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the 8/8 level, which means that the current descending correction may yet continue. If the price fixes under the H4 Super Trend, the market will start a short-term decline towards the daily one and the 6/8 level.
As we can see at the H1 chart, Super Trends are still influenced by “bearish cross”. On Monday, the pair may fall towards the 4/8 level. To confirm this scenario, the market has to fix below the 7/8 one.
USD CAD, “US Dollar vs Canadian Dollar”
After rebounding from the 3/8 level again, the USD/CAD pair managed to fix above the H4 Super Trend. Consequently, in the nearest future the market may break the 4/8 level and test the daily Super Trend. If the price breaks it, the pair may continue growing much higher.
At the H1 chart, the 2/8 level provided support and then Super Trends formed “bullish cross”. As a result, in the nearest future the market may continue growing towards the 5/8 level. After reaching it, the pair may start a new local correction.
RoboForex Analytical Department