Analysis for December 15th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving near the group of upper fibo-level close to the retracement of 50%. On Tuesday, the pair may move towards the retracement of 38.2%. If the market breaks this level and stays below it, the price may fall much deeper.
As we can see at the H1 chart, the current growth is still being supported by Moving Average (period 34). The closest target of the correction is the retracement of 38.2%. If the pair breaks this retracement, the market will continue moving towards the group of fibo-levels at 1.0735.
EUR GBP, “Euro vs Great Britain Pound”
Europound is trying to rebound from the group of local fibo-levels and resume its movement inside the current downtrend. On Tuesday, the pair may fall to reach local retracements at 0.7170.
As we can see at the H1 chart, the predicted target of the current correction is confirmed by local retracements. It’s highly likely that on Tuesday the pair may resume its descending movement. The closest target is the group of fibo-levels at 0.7170.
RoboForex Analytical Department