Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the correctional retracement of 61.8% and, as a result, resumed falling. On Tuesday, the price may continue moving downwards to reach the group of fibo-levels at 1.0445 – 1.0440.
At the H1 chart, the closest target is the group of local fibo-levels at 1.0570. If later the price rebounds from this area, the market may start a short-term ascending correction.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is testing the retracement of 78.6% again. If the price rebounds from this level this time, the market may start a new descending correction. The closest target for bears is the group of fibo-levels at 0.8640 – 0.8620.
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At the H1 chart, to confirm a new correction, the price has to stay below the retracement of 78.6%. If it happens, the future scenario will depend on how the pair s going to behave at 0.8640 – 0.8620.
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.