EUR USD, “Euro vs US Dollar”
After Super Trend formed “bullish cross”, the EUR/USD pair broke the 4/8 level, which means that the current correction may continue. As a result, on Thursday the pair grow towards the 5/8 level. If later the price rebounds from this level, the market will resume moving downwards.
At the H1 chart, the pair broke the 8/8 level and right now is moving inside the “overbought zone”. In the nearest future, the market will continue growing to reach the 2/8 level.
USD CHF, “US Dollar vs Swiss Franc”
After Super Trends formed “bearish cross”, the USD/CHF pair resumed its decline. In the nearest future, the market may test the 2/8 level. If the price rebounds from this level, bulls may try to start another ascending movement.
As we can see at the H1 chart, the pair failed to fix above the 3/8 level and, as a result, broke the local low. It’s highly likely that later the market may continue moving downwards to reach the 0/8 level.
RoboForex Analytical Department