Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Super Trends formed “bullish cross”, which means that the ascending correction may yet continue. The closest target is at the 8/8 level. If later the price rebounds from this level, the market may try to resume its decline.
At the H1 chart, the h1 Super Trends is a support level. On Monday, the pair may continue growing towards the 8/8level, which may provide resistance. To confirm a new descending correction, later the market has to fix below the 7/8 level.
CAD JPY “Canadian Dollar vs Japanese Yen”
The CAD/JPY pair rebounded from the daily Super Trend and then fixed below the 3/8 level. As a result, in the nearest future the market may resume moving downwards. The closest target for bears is the -2/8 level. If the price breaks this level, the lines at the chart will be redrawn.
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At the H1 chart, the pair failed to stay above the 7/8 level and plummeted towards the 4/8 one. If later the price fixes below the 4/8 level, the market will continue falling towards the 1/8 one.
RoboForex Analytical Department
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
