EUR USD, “Euro vs US Dollar”
After rebounding from the 6/8 level and the daily Super Trend, the EUR/USD pair resumed its decline. Later, after finishing the local correction, the price may fix below the 5/8 level and continue falling towards the 2/8 one.
At the H1 chart, Super Trends formed “bearish cross”. On Thursday, the price may test the 5/8 level. If later the pair rebounds from this level, the market may resume falling to reach the 0/8 one.
USD CHF, “US Dollar vs Swiss Franc”
At the H4 chart, the USD/CHF pair is trading inside the “overbought zone”. Earlier, the price rebounded from the 6/8 level. After finishing the local correction, the market may try to resume its growth and break the 2/8 level.
At the H1 chart, the pair is consolidating between the 5/8 and 4/8 levels. If the price is able to stay above Super Trends during this correction, the market may resume growing and break previous lows.
RoboForex Analytical Department