Analysis for November 28th, 2016
EUR USD, “Euro vs US Dollar”
It’s highly likely that the EUR/USD pair started an ascending correction. The closest target is the correctional retracement of 23.6%. If later the price breaks this level, the market may start a more significant ascending correction.
At the H1 chart, the local correction is taking place with the target at the retracement of 78.6%. If later the price rebounds from this level, the market may reach its closest target at 1.0700.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is being corrected. The closest target for is the group of fibo-levels at 0.8415. If later the price rebounds from this area, the market may start a new ascending correction.
As we can see at the H1 chart, the pair rebounded from the retracement of 78.6%. If the price fixes below the retracement of 61.8%, the market may resume falling and break the local low.
RoboForex Analytical Department