EUR USD, “Euro vs US Dollar”
The EUR/USD pair is again trading above 1.1230, which means that it may continue growing towards the next target area at 1.1350 – 1.1320. If later the price rebounds from this area, the market may start a new bearish correction.
It’s highly likely that on Tuesday the pair may test the correctional retracement of 38.2% at 1.1218. If the price rebounds from this level, the market may resume growing and break the previous high.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still consolidating near the group of fibo-levels reached earlier, which means that it may start a new ascending movement. However, if the price rebounds from the upside target area at 0.8770 – 0.8790, the market may start a new bearish correction.
As we can see at the H1 chart, the pair is trying to rebounds from the group of local fibo-levels. It looks like on Tuesday the market may break the local high and test its upside targets once again.
RoboForex Analytical Department