Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair reached the group of fibo-levels at 1.0680. If the price rebounds from this area, the market may start a new ascending correction.
At the H1 chart, the area reached by the price is confirmed by intraday fibo-levels. If the price starts new correction, the closest target for bulls will be the group of fibo-levels at 1.0750 – 1.0740.
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the current correction turned out to be deeper, but, as a result, the price rebounded from the group of local fibo-levels. Possibly, the market may resume its growth towards the area at 0.8850 – 0.8830.
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
As we can see at the H1 chart, several local fibo-levels provided support. The short-term bullish target is the area at 0.8650 – 0.8640. if the pair rebounds from this area, 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.
