Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still moving between Super Trends. Yesterday, the price rebounded from the 8/8 level, which means that it may start a short-term decline. If the pair fixes below the 7/8 level, the market may continue moving downwards to reach the 6/8 one.
Yesterday, the pair rebounded from the 4/8 level, but may test this level again on Tuesday. If bears keep the price below the above-mentioned level, the market may continue falling towards the local low and test the ‑1/8 one.
EUR JPY “Euro vs Japanese Yen”
The EUR/JPY pair managed to stay below Super Trends, which earlier formed “bearish cross”. As a result, in the nearest future the market may move downwards to reach the 4/8 level. After reaching it, the price may start a new ascending correction.
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As we can see at the H1 chart, the pair rebounded from the 5/8 level and then managed to fix below the H4 Super Trend. On Tuesday, the market may resume falling and test the 1/8 level. If the price rebounds from it, the pair may start a new bullish 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.
