Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
After yesterday’s gap, the EUR/USD pair is still consolidating. Possibly, the price may test the 7/8 level once again. If later the pair rebounds from this level, the market may start a new descending correction towards the 4/8 one.
The lines at the H4 and H1 charts are completely the same. To confirm a new bearish correction, the price has to break Super Trends and fix below them.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is still trading near the 3/8 level under the H4 Super Trend. If later the price breaks this level, the market may start moving upwards. The closest target for bulls is at the 7/8 level.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
As we can see at the H1 chart, the pair rebounded from the 5/8 level. After completing the local correction, the price may grow towards the 8/8 level. If later the pair breaks this level, the market may continue moving upwards to reach its upside targets.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
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.
