Analysis for May 25th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling; the price has reached the target area at 1.1130. Considering that the pair hasn’t been able to rebound from this level, it may continue falling to reach the next group of retracements at 1.1070.
At the H1 chart, the closest targets are confirmed by intraday fibo-levels. During the local correction, the price rebounded from the retracement of 23.6%. It’s highly likely that during the day the market may reach a new low.
EUR GBP, “Euro vs Great Britain Pound”
Europound has broken the retracement of 38.2% and resumed moving downwards. In the nearest future, the market may continue falling towards the group of fibo-levels near the retracements of 50% at 0.7550.
At the H1 chart, the correction is taking place. It’s highly likely that on Wednesday the price may continue falling towards its downside targets. If the pair rebounds from the target area, the market may start a new ascending correction.
RoboForex Analytical Department