Analysis for June 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling. The closest target is the group of fibo-levels at 1.0660. During the day, the pair may form a local correction, after which I’m planning to open another sell order.
As we can see at the H1 chart, the market was opened with a strong gap down. Right now, the local correction is taking place, which has already reached retracement 38.2%. However, the current pullback may be even deeper and reach retracement 50%.
EUR GBP, “Euro vs Great Britain Pound”
The market was opened with a strong gap down and Europound moved very fast inside the downtrend. The target for the next several days is still the group of fibo-levels at 0.7020. After the local correction, I’m planning to open another sell order.
At the H1 chart, the local correction is taking place. The lower targets are confirmed by local retracements. If later the price rebounds from this area, the market may start an ascending correction.
RoboForex Analytical Department