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.
Free Reports:
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
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.