Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair broke the 4/8 level pretty fast and is still growing quickly. The closest target is at the 8/8 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, the current bullish rally is supported by Super Trends. On Thursday, the pair may test the 4/8 level. If the price rebounds from this level, the market may start a new correction to reach the 2/8 one.
GBP JPY “Great Britain Pound vs Japanese Yen”
Yesterday, the GBP/JPY pair broke the 5/8 level and fixed above it. It’s highly likely that later the market may continue moving upwards to reach the 6/8 level. If later the price rebounds from this level, the pair may start a new bearish correction.
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At the H1 chart, the pair is trading close to the 7/8 level. If later the price fixes above this level, the market may continue growing and test the 8/8 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.