EURUSD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the 4/8 level, which means that it may resume moving downwards. The closest target for bears is at the 2/8 level. After reaching this level, the market may start a new local correction.
At the H1 chart, the 8/8 level provided resistance. To confirm a new decline, Super Trends have to form “bearish cross”. If they do, the market will continue falling to reach the 4/8 level.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair rebounded from the 3/8 level. If the price breaks Super Trends and stays above them in the nearest future, the market may move upwards to reach the 7/8 level.
As we can see at the H1 chart, after rebounding from the 2/8 level, the pair returned to the 3/8 one. It’s highly likely that on Friday Super Trends may form “bullish cross”. In this case, the market may continue moving upwards to reach the 6/8 level.
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