Analysis for May 6th, 2015
EUR USD, “Euro vs US Dollar”
The pair is trying to resume growing. The closest target at the H4 chart is the group of fibo-levels at 1.1520. I’m planning to open another buy order after the price resumes growing and breaks the maximum.
At the H1 chart, the price has been able to stay above a correctional retracement 23.6%. The upper targets are confirmed by local retracements. Probably, the market may break yesterday’s local high in the nearest future.
EUR GBP, “Euro vs Great Britain Pound”
Euro pound is also attempting to resume its ascending movement. The target for bulls is the group of upper fibo-levels at 0.7470. I’m holding three buy order and planning to open another one when the pair breaks the maximum.
As we can see at the H1 chart, the pair has been supported by retracement 23.6%, which means that the uptrend may resume. If the future, after reaching the group of upper fibo-levels, the price may start a larger correction.
RoboForex Analytical Department