Analysis for August 5th, 2015
EUR USD, “Euro vs US Dollar”
It looks like at the end of the last week, after rebounding from the retracement of 61.8% several times, Eurodollar completed the correction. Yesterday, the price broke the local low. The target is still the group of lower fibo-levels. In the nearest future, the market is expected to continue falling.
![](https://www.roboforex.ru/files/forecasts/wave/05082015/Image20150805150259001.png)
As we can see at the H1 chart, the predicted target of the current ascending correction is confirmed by local retracements. During the day, the market may reach a new low. I opened another sell order when the pair completed the short-term correction.
![](https://www.roboforex.ru/files/forecasts/wave/05082015/Image20150805150259002.png)
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the retracement of 50%, Europound has started a new decline. The target for the nearest future is still the group of fibo-levels at 0.6870. Earlier, I opened a sell order when the price completed the local correction; the stop loss is already in breakeven. Later, I’m planning to increase my short position.
![](https://www.roboforex.ru/files/forecasts/wave/05082015/Image20150805150259003.png)
As we can see at the H1 chart, after rebounding from the group of upper fibo-levels, the price has started falling. Yesterday, the pair rebounded from the retracement of 38.2%. The target is still the lower area, which is confirmed by several local retracements. In the nearest future, the market is expected to reach new lows.
RoboForex Analytical Department