Analysis for December 28th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. If the price tests the group of upper fibo-levels again and rebounds from them, the downtrend may resume. The target is the area at 1.0730.
At the H1 chart, the predicted target of the current correction is at the retracement of 61.8%. If the price isn’t able to stay above it, the market may resume its decline towards the downside targets at 1.0730.
EUR GBP, “Euro vs Great Britain Pound”
Europound has failed to stay above the group of fibo-levels at 0.7385 and right now is being corrected. The closest target for bears is the area at 0.7290. If later the price breaks this area, the correction may become deeper.
At the H1 chart, the closest downside target is confirmed by local retracements. On Monday, the price may test the retracement of 61.8%. If the pair rebounds from it, I’m planning to open a short-term sell order.
RoboForex Analytical Department