EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving towards the 8/8 level. After reaching it, the price may start a new descending correction. The closest target for bears is at 6/8 level. If later the pair breaks this level, the market will fall deeper.
At the H1 chart, the pair rebounded from the 2/8 level several times and reached a new local high. Later, the 4/8 level may provide resistance and the market may start a new bearish correction.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair may test the 6/8 level during the next several hours. If the price rebounds from this level, the market will start moving upwards with the first target at the 4/8 level and the daily Super Trend.
As we can see at the H1 chart, the pair rebounded from the 6/8 level several times and resumed falling. If the 4/8 level provides support, the market will resume moving upwards with the first target at the 6/8 one.
RoboForex Analytical Department