Analysis for October 28th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the group of fibo-levels at 1.1000, Eurodollar continues the correction. It’s highly likely that soon the pair may resume falling towards the next target at 1.0930. If later the market rebounds from this target area, it may start a local ascending correction.
At the H1 chart, Eurodollar has reached the correctional retracement of 50% and rebounded from it several times. The price may reach a new low during the day. If the pair rebounds from the lower levels, I’m planning to close my orders.
EUR GBP, “Euro vs Great Britain Pound”
The pair is still being corrected. In the nearest future, the market may continue moving downwards. The closest target is the area at 0.7070.
At the H1 chart, the correction continues. The market is trying to rebound from the local retracement of 38.2%. Later, the market may update the minimum and reach the lower targets at 0.7070.
RoboForex Analytical Department