EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating close to Super Trends, which may soon form “bearish cross” to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper.
At the H1 chart, Eurodollar is moving at the bottom as well. If the price breaks Super Trends and stays below them, I’m planning to open another sell order. In case the market rebounds from the 0/8 level upwards, the pair may start a new local correction.
USD CAD, “US Dollar vs Canadian Dollar”
In case of Canadian Dollar, the uptrend continues. Bulls are supported by the H4 Super Trend – the price rebounded from it at the end of the last week, which means that the pair may moving upwards. The closest target is at the 8/8 level. If the price rebounds from this level, the market may start a new correction.
As we can see at the H1 chart, the price has been able to stay above the 8/8 level inside “overbought zone”. On Monday, the market 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