Analysis for November 9th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected. Probably, in the nearest future the pair may resume its decline towards the group of lower fibo-levels. If later the price rebounds from this area, it may start a local ascending correction.
At the H1 chart, the price is trying to rebound from the correctional retracement of 38.2%. Possibly, on Monday the pair may break last Friday’s low. The lower targets are confirmed by local retracements.
EUR GBP, “Euro vs Great Britain Pound”
The pair is trying to reach the retracement of 61.8%. If later the price rebounds from this level, the downtrend may resume. The target is the group of retracements at 0.6875.
As we can see at the H1 chart, the predicted target of the current correction is confirmed by local retracements. Possibly, during the day the market may resume its descending movement. The closest target is the group of retracements at 0.6949.
RoboForex Analytical Department