Analysis for September 29th, 2015
EUR USD, “Euro vs US Dollar”
The pair is still being corrected. Earlier, Eurodollar rebounded from the correctional retracement of 61.8% and resumed falling. The main target is still the group of lower fibo-levels at 1.0640.
At the H1 chart, Eurodollar may try to test the correctional retracement of 50% again. In the pair rebounds from it, the correction towards the retracement of 61.8% may continue. The short-term target for bears is the group of local retracements at 1.0940.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the group of lower fibo-levels, Europound continues growing. It’s highly likely that during the day the pair may reach new highs and soon after that – the closest upside target at 0.7500.
As we can see at the H1 chart, after rebounding from the local retracement of 50%, the pair has resumed moving upwards. In the nearest future, the market may reach its targets and then start another descending correction.
RoboForex Analytical Department