EUR USD, “Euro vs US Dollar”
After yesterday’s gap, the EUR/USD pair is still consolidating. Possibly, the price may test the 7/8 level once again. If later the pair rebounds from this level, the market may start a new descending correction towards the 4/8 one.
The lines at the H4 and H1 charts are completely the same. To confirm a new bearish correction, the price has to break Super Trends and fix below them.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still trading near the 3/8 level under the H4 Super Trend. If later the price breaks this level, the market may start moving upwards. The closest target for bulls is at the 7/8 level.
As we can see at the H1 chart, the pair rebounded from the 5/8 level. After completing the local correction, the price may grow towards the 8/8 level. If later the pair breaks this level, the market may continue moving upwards to reach its upside targets.
RoboForex Analytical Department