Analysis for January 25th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving near the group of fibo-levels at 1.0800 and trying to rebounds from this area. On Monday, if it succeeds, the market may grow towards the current local highs.
At the H1 chart, the predicted target of the current correction is confirmed by local retracements and intraday fibo-levels. The short-term target for bulls is the retracement of 61.8% at 1.0900. If the pair breaks it, the market will continue moving upwards to reach the retracement of 78.6%.
EUR GBP, “Euro vs Great Britain Pound”
In case of Europound, the uptrend continues. The closest target is the area at 0.7840. It’s highly likely that if later the pair rebounds from the ascending channel’s downside border and the retracement of 50%, the price will resume moving upwards.
At the H1 chart, the local correction has completed at the retracement of 38.2%. During the day, Europound may rebound from this level upwards and continue growing.
RoboForex Analytical Department