EUR USD, “Euro vs US Dollar”
The EUR/USD pair broke the 4/8 level pretty fast and is still growing quickly. The closest target is at the 8/8 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, the current bullish rally is supported by Super Trends. On Thursday, the pair may test the 4/8 level. If the price rebounds from this level, the market may start a new correction to reach the 2/8 one.
GBP JPY “Great Britain Pound vs Japanese Yen”
Yesterday, the GBP/JPY pair broke the 5/8 level and fixed above it. It’s highly likely that later the market may continue moving upwards to reach the 6/8 level. If later the price rebounds from this level, the pair may start a new bearish correction.
At the H1 chart, the pair is trading close to the 7/8 level. If later the price fixes above this level, the market may continue growing and test the 8/8 one.
RoboForex Analytical Department