EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair rebounded from the 6/8 level and right now is already moving above the H4 Super Trend. As a result, in the nearest future the market may grow towards the 8/8 level. After reaching it, the price may start a new descending correction.
The lines at the H4 and H1 charts are completely the same. If the price stays above Super Trends, the pair may reach a new local high. The future scenario depends on how the market will move at the 8/8 level.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair rebounded from the H4 Super Trend and fixed below the 3/8 level. Consequently, later the price my break the previous low and test the 2/8 level. After reaching it, the pair may start a new bullish correction.
At the H1 chart, Super Trends are still influenced by “bearish cross”. Considering that earlier the pair rebounded from the 6/8 level, in the future it may fall towards the 4/8 one.
RoboForex Analytical Department