EUR USD, “Euro vs US Dollar”
After rebounding from the 3/8 level, the EUR/USD pair fixed above the 4/8 one, which means that it may continue moving upwards. Possibly, on Thursday the market may test the 5/8 level. If later the price rebounds from this level, the pair may start a new correction.
As we can see at the H1 chart, the price is trying to fix above the 8/8 level inside the “overbought zone”. Consequently, if the pair rebounds from the H1 Super Trend during the day, the market may resume its ascending movement and test the 2/8 level.
GBP JPY “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair couldn’t fix below the 3/8 level and, as a result, started a new correction. The closest target is at the 4/8 level. If later the price breaks this level, the market may continue moving upwards to reach the 5/8 one.
At the H1 chart, Super Trends formed “bullish cross”. Earlier, the price lacked just several pips to reach the 1/8 level. Consequently, in the future the market may start a short-term growth towards the 4/8 level.
RoboForex Analytical Department