Analysis for July 27th, 2015
EUR USD, “Euro vs US Dollar”
The correction continues; Eurodollar has reached the retracement of 61.8%. If the price rebounds from this level, the downtrend may resume. The target is still the group of lower fibo-levels.
As we can see at the H1 chart, the predicted target of the current correction is confirmed by local retracements. I’m planning to increase my short position as soon as the price breaks the retracement of 50%.
EUR GBP, “Euro vs Great Britain Pound”
Europound is still being corrected and trying to rebound from the retracement of 50%. The target for the nearest future is the group of fibo-levels at 0.6870. Later, when the pair completes the local correction, I’m planning to open a sell order.
At the H1 chart, the price is also being corrected. If the pair rebounds from the group of local retracements, the downtrend may resume. The target is still the lower area.
RoboForex Analytical Department