Article By RoboForex.com
Analysis for January 11th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the retracement of 61.8%, Eurodollar has started a fast growth. During the week, the pair may continue its ascending movement towards the group of upper fibo-levels at 1.1110 – 1.1090. Consequently, soon the market may break the December’s high.
At the H1 chart, the intraday correction is taking place. If later the pair rebounds from the group of local retracements, it may start a new ascending movement. The closest target is the area at 1.1010.
EUR GBP, “Euro vs Great Britain Pound”
Europound has reached the group of fibo-levels at 0.7530. It looks like in the nearest future, after completing the local correction, the price will continue moving towards the next group of fibo-levels at 0.7610.
At the H1 chart, the current correction may be supported by the retracement of 61.8% (0.7470). If the price rebounds from this level, it may resume moving upwards. If later the market rebounds from the upside target area, the pair may start a descending correction.
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.
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.
