Analysis for September 8th, 2015
EUR USD, “Euro vs US Dollar”
The Eurodollar is attempting to renew its decline. The immediate goal is the accumulation of lower fibo levels (1.0000 - 0.9970). Two deals for sale are still in play, and later on I plan to increase the volume of short positions.
On the hourly chart the price has formed a retreat from the local level of 50%. Lower accumulation of Fibo levels around 1.1055 still remains relevant. Later on a correction may start in this price region.
EUR GBP, “Euro vs Great Britain Pound”
The Europound has formed a double retreat from the congestion of the upper Fibo levels. In the short term a downward movement to the nearest target, located in the area of 0.7220, is possible. In case of breaking through the mark, a deeper decline will be possible.
On the hourly chart the price has formed a retreat from the correctional level of 61.8%. The next goal is confirmed by lower local Fibo levels. In the short term a further decrease in the cross may happen.
RoboForex Analytical Department