Analysis for February 15th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded from the group of upper fibo-levels and started a new correction. The closest target is the group of local retracements at 1.1100. If the price breaks them, the market may continue falling.
At the H1 chart, the downside target is confirmed by the local retracements. It’s highly likely that on Monday, the pair may break the last week’s low.
EUR GBP, “Euro vs Great Britain Pound”
Europound has successfully reached its upside targets and right now is being corrected. During the day, the price may continue falling towards the group of local retracements at 0.7690.
At the H1 chart, the closest targets of the current descending movement are confirmed by local retracements. If the pair rebounds from this area, Europound may start a short-term ascending correction.
RoboForex Analytical Department