Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair broke the 4/8 level pretty fast and, as a result, started growing significantly. The closest target is at the 6/8 level. If later the pair rebounds from this level, the market may start a new descending correction.
As we can see at the H1 chart, Super Trends formed “bullish cross”. On Wednesday, the pair may test the 2/8 level. If the price rebounds from this level, the market may resume moving upwards to reach the 4/8 one.
GBP JPY “Great Britain Pound vs Japanese Yen”
Yesterday, the GBP/JPY pair broke the 3/8 level along with the daily Super Trend and then reached the 4/8 one. Right now, the price is consolidating close to this level. It’s highly likely that later the market may continue moving upwards to reach the 5/8 level.
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At the H1 chart, the pair is being corrected below the 8/8 level. If later the price rebounds from the H1 Super Trend, the market may resume growing and test the +2/8 level.
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.