Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still trading close to the group of fibo-levels at 1.1240 – 1.1220. If the price rebounds from this area, the market may resume moving upwards. The closest target for bulls is the area at 1.1350 – 1.1320.
At the H1 chart, the pair may test the correctional retracement of 38.2% at 1.1200. If the price rebounds from this level, the market may continue growing and break local highs.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is trying to fix above the area at 0.8710 – 0.8685. The closest target is the group of fibo-levels at 0.8790 – 0.8770. If later the price rebounds from these levels, the market may start a new local correction.
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As we can see at the H1 chart, the pair rebounded from the local retracement of 61.8% at 0.8657. Possibly, on Friday the price may break the local high. However, if the pair rebounds from its upside targets, the market may start a new bearish correction.
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.
