EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the H4 Super Trend, but may yet test it once again along with the 5/8 level. If the price rebounds from these levels, the market may resume falling towards the 2/8 one.
At the H1 chart, the pair rebounded from the 1/8 level and started an ascending correction. If the price fixes above the 2/8 level during the day, it may start a short-term growth to reach yesterday’s high. In the future, the market may resume moving downwards and test the -2/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
In case of the USD/CAD pair, Super Trends formed “bullish cross”. If the price rebounds from the 7/8 level, it may start a local correction towards the 5/8 one, which is confirmed by the daily Super Trend.
The lines at the H4 and H1 charts are completely the same. To confirm a new correction, the pair has to fix below Super Trends. If later the market rebounds from the 5/8 level, the pair may resume growing and break the high.
RoboForex Analytical Department