Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair failed to break the group of fibo-levels at 1.1140 – 1.1130 and, as a result, started a short-term growth. However, later the price returned to this area and right now is testing it again. If the pair breaks it, the market may resume falling.
At the H1 chart, the pair rebounded from the local retracement of 50% and almost reached the local low. In the nearest future, the price may continue its descending movement. The closest target is the group of fibo-levels at 1.1010 – 1.0990.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is testing the group of fibo-levels at 0.8795 – 0.8770 again. If the price rebounds from this area, the market may start a new decline. The closest target is the area at 0.8610.
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As we can see at the H1 chart, the downside targets are confirmed by intraday fibo-levels. Consequently, after completing the correction, the price may break the previous low and reach the closest bearish targets.
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.
