Analysis for June 27th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the retracement of 61.8% successfully, Eurodollar started plummeting. The correction that followed was rather short, but still it reached the retracement of 50% and rebounded from it twice. Consequently, in the nearest future the market may continue falling towards the group of fibo-levels at 1.0810.
As we can see at the H1 chart, the price rebounded from the correctional retracement of 50%, which was confirmed by intraday fibo-levels. Possibly, on Monday the market may reach a new low.
EUR GBP, “Euro vs Great Britain Pound”
Europound continues growing steadily. Earlier, the price rebounded from the correctional retracement of 78.6%. The correction that followed later reached the retracement of 38.2% and broke the maximum. The closest target for bulls is the area at 0.8480.
At the H1 chart, the upside targets are confirmed by intraday fibo-levels. During the day, the price may form a short-term correction, but later it is expected to continue growing towards the group of upside retracements.
RoboForex Analytical Department