Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair stopped falling at the 6/8 level, which means that it may start a new local correction. However, if later the price rebounds from the 7/8 level and the H4 Super Trend, the market may resume falling towards the 5/8 level.
As we сan see at the H1 chart, the pair rebounded from the +1/8 level and started falling, and then the 4/8 one provided support. The closest target is at the 6/8 level. If later the price rebounds from this level, the market may start a new decline.
GBP JPY “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair rebounded from the -1/8 level and started the current growth. It’s highly likely that in the nearest future the market may continue moving upwards. If later the 8/8 level provides resistance, the price may start a new bearish correction.
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At the H1 chart, the pair resumed its growth after a short consolidation. The main target is at the 8/8 level, but if the price rebounds from the 6/8 level in the nearest future, the market may start a new local bearish correction.
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.
