Analysis for April 4th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. Possibly, on Monday the price may return to the closest group of lower fibo-levels at 1.1320 – 1.1305. If later the pair rebounds from this area, the market may start a new growth towards its upside targets at 1.1475 – 1.1455.
At the H1 chart, the predicted target of the current local descending correction is confirmed by the retracement of 50%. If the marker rebounds from this area, the pair will continue moving upwards.
EUR GBP, “Euro vs Great Britain Pound”
Last Friday, Europound has reached its predicted targets and started a correction. It’s highly likely that the price may continue falling on Monday. Later, bulls may try to reach the next group of fibo-levels between 0.8060 – 0.8050.
As we can see at the H1 chart, the closest target of the correction is the retracement of 38.2% and the levels around it. If the pair rebounds from this area upwards, the market may resume its growth and break the highs reached last week.
RoboForex Analytical Department