Analysis for September 18th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. If the pair rebounds from the local retracement of 61.8% during the day, it may resume falling. Otherwise, if the price breaks this level, it may continue growing towards the retracement of 78.6%.
At the H1 chart, the predicted target of the current correction is confirmed by local retracements. If later the price rebounds from these targets, I’m planning to open a sell order with the stop loss above the maximum.
EUR GBP, “Euro vs Great Britain Pound”
Europound may yet resume falling. Earlier, the price was just several tens of pips shy to reach the group of upper fibo-levels again. Later, the market may continue falling towards the closest target at 0.7220.
At the H1 chart, the local correction is taking place; the market has already rebounded from the retracement of 78.6%. It’s highly likely that during the day the price may reach a new low. If later the pair is able to break the group of lower fibo-levels, it may continue falling much deeper.
RoboForex Analytical Department