Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
In case of the EUR/USD pair, the ascending correction continues. The closest target for bulls is the group of fibo-levels at 1.0935 – 1.0920. If later the price rebounds from this area, it may start a new descending correction.
At the H1 chart, the pair rebounded from several local fibo-levels, resumed growing, and, as a result, broke the previous low. On Thursday, the market may continue growing to reach its upside targets.
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the correction may yet continue and break the local high. Possibly, in the nearest future the market may test the retracement of 38.2% again. If the pair rebounds from this level, the market will start a new descending movement.
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As we can see at the H1 chart, the pair is trying to rebound from the correctional retracement of 78.6%. If later the price fixes above the retracement of 61.8%, the market may resume growing towards the closest group of fibo-levels near the local high.
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.
