Analysis for December 9th, 2015
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the correction continues. Later, the pair may resume growing with the closest target at the group of fibo-levels near the retracement of 50%. If this level is broken, the market may continue its growth towards the retracement of 61.8%.
As we can see at the H1 chart, the current growth may continue towards the group of upper fibo-levels near the retracement of 50%. Earlier, the market rebounded from the correctional retracement of 38.2% and this was the reason why the price started a new ascending movement.
EUR GBP, “Euro vs Great Britain Pound”
In case of Europound, the situation is quite similar. The closest target is the group of local fibo-levels at 0.7295. If the market breaks t, the pair continue moving upwards much higher.
As we can see at the H1 chart, the price may test the group of upper fibo-levels on Wednesday. It’s highly likely that during the day the pair may reach a new local high.
RoboForex Analytical Department