Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating above the 8/8 level between Super Trends. On Monday, the price may test the 8/8 level. If the pair rebounds from this level, the market may start a new descending correction towards the 6/8 one.
As we can see at the H1 chart, Super Trends formed “bullish cross”. As a result, in the nearest future the price may test the 4/8 level. If the pair rebounds from this level, it will resume falling. In this case, the closest target will be at the 0/8 level.
GBP JPY “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is testing he 3/8 level and the daily Super Trend again. If the price breaks these levels, the market may start moving upwards to reach the 4/8 level. After reaching it, the pair may start a new local correction.
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At the H1 chart, the pair is trying to enter the “overbought zone”. Earlier, Super Trends formed “bullish cross”. On Monday, the price may continue growing towards the +2/8 level. If later this level is broken, the lines at the chart will be redrawn.
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.
