Analysis for March 25th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating between two groups of fibo-levels. In the nearest future, after completing the local correction, the market may test the downside target area. If the price breaks it, the pair may continue falling much deeper.
At the H1 chart, both upside and downside targets are confirmed by local retracements. On Friday, the price may break yesterday’s high, but then it is expected to resume falling and breaks the minimum.
EUR GBP, “Euro vs Great Britain Pound”
Europound is still being corrected. It’s highly likely that later the market may resume its ascending movement towards the group of upper fibo-levels between 0.8000 – 0.7990. If the price rebounds from this area, the marker may start a new descending correction.
At the H1 chart, the target of the current correction is at the retracement of 38.2%, from which the price rebounded yesterday. It’s highly likely that on Friday the test the above-mentioned retracement once again.
RoboForex Analytical Department