EUR USD, “Euro vs US Dollar”
The EUR/USD broke Super Trend, which later formed “bullish cross”. However, the price is still trading below the 4/8 level. As a result, if the pair breaks the 3/8 level, the market will resume moving downwards to reach the 0/8 one.
At the H1 chart, the pair is moving between the 8/8 and 7/8 levels. To confirm a new decline, the price has to break the 6/8 level along with Super Trends and fix below them. If it happens, the market will continue falling to reach the 0/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair rebounded from the 1/8 level and, as a result, started growing. If later the price fixes above the 4/8 level, the market may continue growing. In this case, the closest target will be at the 7/8 level.
As we can see at the H1 chart, Super Trends formed “bullish cross” and the price continued moving upwards. On Wednesday, the local correction may take place to reach the 6/8 level. If the pair rebounds from this level, the market will resume moving towards the 2/8 one.
RoboForex Analytical Department