EUR USD, “Euro vs US Dollar”
The EUR/USD pair broke the 4/8 level pretty fast and, as a result, started growing significantly. The closest target is at the 6/8 level. If later the pair rebounds from this level, the market may start a new descending correction.
As we can see at the H1 chart, Super Trends formed “bullish cross”. On Wednesday, the pair may test the 2/8 level. If the price rebounds from this level, the market may resume moving upwards to reach the 4/8 one.
GBP JPY “Great Britain Pound vs Japanese Yen”
Yesterday, the GBP/JPY pair broke the 3/8 level along with the daily Super Trend and then reached the 4/8 one. Right now, the price is consolidating close to this level. It’s highly likely that later the market may continue moving upwards to reach the 5/8 level.
At the H1 chart, the pair is being corrected below the 8/8 level. If later the price rebounds from the H1 Super Trend, the market may resume growing and test the +2/8 level.
RoboForex Analytical Department