Article By RoboForex.com
Analysis for August 16th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair continues growing. It looks like, after completing the local correction, bulls may try to test the correctional retracement of 78.6%, which is confirmed by several intraday fibo-levels.
At the H1 chart, the pair is moving near its local highs. Possibly, the correction may take place during the day, but later the price is expected to resume growing towards the group of upside fibo-levels.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still moving upwards. The closest target is the group of retracements at 0.8860 – 0.8880. After completing the short-term correction, the market is expected to continue growing.
At the H1 chart, the target of the current correction is the retracements of 38.2%. Earlier, the price successfully reached its local target. If later the pair rebounds from this level upwards, the market may start a new ascending movement.
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.
