Analysis for June 28th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar rebounded from the retracement of 50% during the local correction, which means that it may resume falling. It’s highly likely that in the nearest future the pair may continue falling towards the group of fibo-levels at 1.0810.
As we can see at the H1 chart, the price is still consolidating. Today, the pair has rebounded from the correctional retracement of 61.8% and may soon break previous lows.
EUR GBP, “Euro vs Great Britain Pound”
Europound continues growing steadily. Earlier, the price rebounded from the correctional retracement of 78.6%. The local correction that followed later reached the retracement of 38.2% and then broke the maximum. The closest target for bulls is the area at 0.8480.
At the H1 chart, the pair is being corrected after yesterday’s growth. If the price rebounds from the retracement of 38.2% during the day, it may resume growing. In this case, in the future the market may break the high and reach the upside targets.
RoboForex Analytical Department