EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the correctional retracement of 50%, which means that the market may start a new descending correction. Consequently, on Wednesday the price may break the local low.
As we can see at the H1 chart, the target area reached by the pair is confirmed by local fibo-levels. The closest target of the descending correction is the group of fibo-levels at 1.0675.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair reached its targets. The closest target for bulls is the correctional retracement of 38.2%. If later the price rebounds from this level, the market may resume moving downwards and break the local low.
As we can see at the H1 chart, the correctional retracement of 38.2% is confirmed by intraday fibo-levels. Possibly, this area may be tested on Wednesday.
RoboForex Analytical Department