Analysis for July 29th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar has rebounded from the retracement of 61.8% and, thus, completed the correction. The target is still the group of lower fibo-levels. In the nearest future, the market is expected to continue falling and break yesterday’s low.
![](https://www.roboforex.ru/files/forecasts/wave/01042015/29072015/Image20150729141636001.png)
As we can see at the H1 chart, the predicted target of the current ascending correction is confirmed by local retracements. I opened a sell order with the stop loss near the highs when the price broke the retracement of 50%. During the day, the market may reach several new lows.
![](https://www.roboforex.ru/files/forecasts/wave/01042015/29072015/Image20150729141637001.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound has rebounded from the retracement of 50%. The target for the nearest future is the group of fibo-levels at 0.6870. I opened a sell order when the price completed the local correction.
![](https://www.roboforex.ru/files/forecasts/wave/01042015/29072015/Image20150729141637002.png)
As we can see at the H1 chart, after rebounding from the group of upper fibo-levels, the price has started falling actively. The target is still the lower area, which is confirmed by several local retracements.
RoboForex Analytical Department