Analysis for October 7th, 2015
EUR USD, “Euro vs US Dollar”
The pair continues moving sideways. Earlier, Eurodollar rebounded from the retracement of 61.8% and resumed its descending movement. The main target is still the group of lower fibo-levels at 1.0640.
![](https://www.roboforex.ru/files/forecasts/wave/october2015/7/Image20151007133105001.png)
Several hours ago, the pair rebounded from the local retracement of 78.6%. The short-term target for bears is still the group of retracements at 1.0940. Probably, the market may break the last week’s low quite soon.
![](https://www.roboforex.ru/files/forecasts/wave/october2015/7/Image20151007133105002.png)
EUR GBP, “Euro vs Great Britain Pound”
Several rebounds from the group of upper fibo-levels indicate that Europound may start moving downwards again. In the nearest future, the market is expected to fall with the target at 0.7280.
![](https://www.roboforex.ru/files/forecasts/wave/october2015/7/Image20151007133105003.png)
At the H1 chart, the local correction is taking place. It looks like the pair is going to reach a new local low on Wednesday. The lower targets from the H4 chart are confirmed by local retracements.
RoboForex Analytical Department