Analysis for July 21st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has started a correction. However, during the day the price may resume the downtrend. The target is still the group of lower fibo-levels at 1.0640 – the price may reach them during the next several days.
![](https://www.roboforex.ru/files/forecasts/wave/01042015/21072015/Image20150721142711001.png)
As we can see at the H1 chart, after rebounding from a correctional retracement 50%, the pair has resumed falling. In the nearest future, the current correction may complete at retracement 23.6% or 38.2%. The intermediate target is the group of fibo-levels at 1.0720. Probably, the market may break the local low during the day.
![](https://www.roboforex.ru/files/forecasts/wave/01042015/21072015/Image20150721142711002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound continues falling. Earlier, the pair has rebounded from a correctional retracement 50%. The target for the nearest future is the group of fibo-levels at 0.6870. I’m planning to open another sell order when the pair completes the local correction.
![](https://www.roboforex.ru/files/forecasts/wave/01042015/21072015/Image20150721142711003.png)
At the H1 chart, the price is being corrected. Later, I’m planning to increase my short position when the price rebounds from retracement 23.6%. If the price rebounds from the lower levels, it may start an ascending correction.
RoboForex Analytical Department