Analysis for August 24th, 2015
EUR USD, “Euro vs US Dollar”
The pair continues the fast ascending correction. The closest target for bulls is the group of upper fibo-levels at 1.1600. During the local correction, I opened a buy order, just as I planned.
As we can see at the H1 chart, the local correction is taking place. If in the nearest future the pair rebounds from the retracements of 61.8%, the price may resume moving upwards. The upper targets are confirmed by local retracements.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the correctional retracement of 61.8%, Europound hast started a fast ascending rally. During the local correction, I opened a buy order. The closest target for bulls is the group of upper fibo-levels at 0.7275.
If the pair rebounds from the group of local retracements at 0.7370 at the H1 chart, the market may start a descending correction. After the correction, I’m planning to open another buy order as the price continues moving upwards.
RoboForex Analytical Department