EUR USD, “Euro vs US Dollar”
At the daily chat, the EUR/USD pair rebounded from the 1/8 level several times and, as a result, started the current correction. However, the price couldn’t fix above the 4/8 level and right now is moving below the daily Super Trend. If the pair stays below it, the market may test the 2/8 level once again.
As we can see at the H4 chart, on Friday the pair rebounded from the 4/8 level twice and, as a result, started growing quickly. However, if the price rebounds from the 6/8 level, bears may try to reverse the pair and push it towards the 2/8 one.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair rebounded several times from the 7/8 level, which provided resistance earlier. If the price fixes below the 6/8 level, the market will continue falling towards the 5/8 one.
At the H4 chart, Super Trends formed “bearish cross”. If the price stays below the 5/8 level next Monday, later the pair may start a new decline towards the 0/8 one.
RoboForex Analytical Department