EUR USD, “Euro vs US Dollar”
Possibly, the EUR/USD pair started a new ascending correction. The closest target is at the 4/8 level and the daily Super Trend. If later the price rebounds from these levels, the market may resume moving downwards.
At the H1 chart, the pair is still moving inside the “oversold zone”. It’s highly likely that during the next several days the price may test the 0/8 level. If later the price rebounds from it, the market may resume its decline.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
The NZD/JPY pair continues falling. If the price is able to stay below the 3/8 level, the market will continue moving downwards. The closest target for bears is at the 1/8 level. After reaching it, the pair may start a new correction.
At the H1 chart, the pair is consolidating between the 5/8 and 3/8 levels. As a result, if later the price rebounds from the 5/8 level, the market may resume its descending movement.
RoboForex Analytical Department