Analysis for July 9th, 2015
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is finishing the local correction. Probably, bears will return to the market and it may resume falling quite soon. The closest target is still the group of fibo-levels at 1.0660. After reaching it, the market may start an ascending correction.
As we can see at the H1 chart, the price has broken a correctional retracement 50%, which means that it may resume moving downwards. The lower targets are confirmed by local retracements. I’m planning to move the stop loss on my current orders to the previous high as soon as the market breaks the minimum.
EUR GBP, “Euro vs Great Britain Pound”
Possibly, Europound has finished its ascending correction. The target for the next several days is the group of fibo-levels at 0.6870. Earlier, I opened a sell order when the pair completed the local correction.
As we can see at the H1 chart, the price has rebounded from the group of local fibo-levels. Possibly, the pair may resume falling quite soon. The intermediate target is the group of fibo-levels at 0.7020.
RoboForex Analytical Department