Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is consolidating between Super Trends. Earlier, the price failed to fix above the 8/8 level after all. Consequently, in the nearest future the market may fall towards the 6/8 level. After reaching it, the pair may start a new ascending movement.
As we can see at the H1 chart, Super Trends formed “bearish cross”. On Friday, the pair may start a local correction, which may later be followed by the test of the 4/8 level. If the price rebounds from this level and fixes above the daily Super Trend, the market may resume growing.
USD CAD, “US Dollar vs Canadian Dollar”
In case of the USD/CAD pair, the lines at the daily and H4 charts are completely the same. The price rebounded from the 3/8 level three times, which means that it may start an ascending correction, at least. The closest target for bulls is at the daily Super Trend.
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At the H1 chart, Super Trends may form “bullish cross” soon. In this case, the pair may start a short-term growth towards the 4/8 level.
RoboForex Analytical Department
Article By RoboForex.com
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