Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
After rebounding from the H4 Super Trend, Eurodollar has broken the 0/8 level and right now is moving inside the “oversold zone”. Consequently, in the nearest future the market may fall towards the -2/8 level.
As we can see at the H1 chart, the pair is moving under the 0/8 level as well. Right now, the local correction between Super Trends is taking place. It’s highly likely that the price may test the 0/8 level during the day. If the pair rebounds from this level, the market may resume moving downwards.
At the H4 chart, Super Trends have formed “bearish cross”. Earlier, the pair rebounded from the 3/8 level. As a result, in the nearest future the price may continue its descending movement towards the 1/8 level.
As we can see at the H1 chart, Super Trends are influenced by “bearish cross” as well. After the price fixes the -1/8 level, the market may resume moving downwards. If the pair breaks the -2/8 level, the lines at the chart will be redrawn.
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