EUR USD, “Euro vs US Dollar”
At the end of the last week, the EUR/USD pair rebounded from the 6/8 level and right now is trying to start a new descending movement. If the price fixes below the H4 Super Trend, the market may continue falling towards the 2/8 level.
As we can see at the H1 chart, the 4/8 level provided resistance. To confirm a new decline, Super Trends have to form “bearish cross”. If they do, the pair may break the 0/8 level and fix inside the “oversold zone”.
EUR JPY, “Euro vs Japanese Yen”
The EUR/JPY pair broke the 0/8 level and right now is trying to fix below it. Earlier, Super Trends formed “bearish cross”. On Monday, the price may resume moving downwards to reach the -2/8 level.
At the H1 chart, the pair is also moving inside the “oversold zone”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn.
RoboForex Analytical Department