Analysis for September 10th, 2015
EUR USD, “Euro vs US Dollar”
The Eurodollar is trying to return to a decline. Previously, a rebound from upper congestion of Fibo levels was formed. In the short term further decline of the pair may occur to the nearest target in the area of 1.0630, a break through of which will leave the price even lower.
On the hourly chart the price has formed a retreat from the local level of 61.8%. The lower accumulation of Fibo levels around 1.0950 still remains relevant. Later on in this price region a correction may start.
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 is possible, located in the area of 0.7220. In case of breaking of this level a deeper decline will become 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 of this cross is possible.
RoboForex Analytical Department