EUR USD, “Euro vs US Dollar”
After rebounding from the 1/8 level yesterday, the EUR/USD is testing the 8/8 one. If the price rebounds from this level, it may start a new descending correction. The closest target for bulls is at the daily Super Trend.
At the H1 chart, the pair failed to reach the 7/8 level and, as a result, started the current correction. If the price breaks the 4/8 level in the nearest future and Super Trends form “bearish cross”, the market may continue falling towards the 2/8 one.
NZD USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair rebounded from the 8/8 level, which means that it may start a new correction. The closest target is at the 6/8 level and the daily Super Trend.
At the H1 chart, the pair is moving in the middle. In the nearest future, the market may fall towards the 0/8 level. To confirm this scenario, the price has to fix below the 3/8 one.
RoboForex Analytical Department