EUR USD, “Euro vs US Dollar”
The market was opened with a gap up; the EUR/USD pair made a quick move upwards and reached the group of fibo-levels at 1.0900. In the nearest future, the market may start a new descending correction with the target at the retracement of 38.2% (1.0783).
At the H1 chart, the target area reached by the pair is confirmed by intraday fibo-levels. Later, the price may move downwards to reach the correctional retracement of 38.2%, which is inside today’s gap.
EUR GBP, “Euro vs Great Britain Pound”
At the daily chart, the EUR/GBP pair rebounded from the retracement of 38.2% for the third time. As a result, in the nearest future the market may move upwards to reach the retracement of 23.6%.
As we can see at the H4 chart, the pair rebounded from the group of local fibo-levels. Consequently, in the nearest future the market may grow towards the area at 0.8700.
RoboForex Analytical Department