Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the correctional retracement of 38.2% several times and resumed falling. After finishing the local correction, the market may continue moving downwards to reach the area at 1.0445 – 1.0440.
As we can see at the H1 chart, the closest target of the current correction is the retracement of 38.2%. If the price rebounds from this level on Thursday, the pair may continue falling and reach several new lows.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair continues growing. The main target for bulls is the group of fibo-levels at 0.8760 – 0.8750. if later the price rebounds from this area, the market may start a new descending correction.
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At the H1 chart, the upside targets are confirmed by intraday fibo-levels. Possibly, on Thursday bulls may test this area, which may provide resistance.
RoboForex Analytical Department
Article By RoboForex.com
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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.
