Analysis for October 2nd, 2015
EUR USD, “Euro vs US Dollar”
The pair is trying to resume moving downwards. Earlier, Eurodollar rebounded from the correctional retracement of 61.8% and started falling. The main target is still the group of lower fibo-levels at 1.0640.
At the H1 chart, Eurodollar has rebounded from the retracement of 50%. The short-term target for bears is still the group of local retracements at 1.0940.
EUR GBP, “Euro vs Great Britain Pound”
The market is still being corrected. Earlier, the price rebounded from the group of lower fibo-levels. It’s highly likely that later the pair may reach new highs and soon after that – the closest upside target at 0.7500.
As we can see at the H1 chart, the pair is trying to rebound the local retracement of 61.8%. The upper target area is confirmed by local retracements. In the future, the market may reach its targets and then start another descending correction.
RoboForex Analytical Department