EUR USD, “Euro vs US Dollar”
The EUR/USD pair has reached a new high and the group of upside fibo-levels. On Tuesday, the price may test this area once again. If the pair rebounds from this level, the market may start a new descending correction.
At the H1 chart, the upside target area is confirmed by intraday fibo-levels. If later the price is able to fix below this area, the market may start a new correction. In this case, the closest target for bears will be at 1.0685.
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the correction towards the retracement of 50% at 0.8625 may yet continue. If later the price rebounds from this level, the market may start a new ascending movement to reach its upside targets at 0.8965.
At the H1 chart, the pair rebounded from the correctional retracement of 61.8%, resumed falling, and, as a result, broke the local low. Later, the price may continue falling towards the closest group of fibo-levels.
RoboForex Analytical Department