Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is testing the correctional retracement of 38.2% again. If the price fixes below this level, it may resume moving downwards. in this case, the closest target will be the group of fibo-levels at 1.0580 – 1.0570.
At the H1 chart, the retracement of 61.8% provided resistance to the local correction. As a result, in the nearest future the market may resume its decline and break the local low. The downside target area is confirmed by intraday fibo-levels.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is trying to rebound from the correctional retracement of 50%. If bears succeed, the price will continue moving downwards to reach the target area at 0.8430 – 0.8420.
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As we can see at the H1 chart, the pair rebounded from the group of fibo-levels at the correctional retracement of 61.8%. Consequently, in the nearest future the market may resume falling ad break the local low.
RoboForex Analytical Department
Article By RoboForex.com
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