Analysis for October 23rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has started a fast decline. The closest target is still the group of fibo-levels at 1.10. If the pair rebounds from this target area, it may start a local ascending correction.
![](https://www.roboforex.ru/files/forecasts/wave/october2015/23/Image20151023144517001.png)
As we can see at the H1 chart, the pullback upwards wasn’t too long – the market hasn’t reached the retracement of 23.6%. It’s highly likely that the price may reach a new low during the day. If the pair rebounds from the lower levels, I’m planning to close my orders.
![](https://www.roboforex.ru/files/forecasts/wave/october2015/23/Image20151023144517002.png)
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the group of upper fibo-levels, Europound has resumed falling. In the nearest future, the market may continue moving downwards. The closest target is the area at 0.7065.
![](https://www.roboforex.ru/files/forecasts/wave/october2015/23/Image20151023144517003.png)
As we can see at the H1 chart, the lower target area is confirmed by local retracements. The local correction has reached the retracement of 23.6%. The market may reach new lows during Friday.
RoboForex Analytical Department