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.
![](https://www.roboforex.ru/files/forecasts/wave/06052015/Image20150506044344001.png)
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.
![](https://www.roboforex.ru/files/forecasts/wave/06052015/Image20150506044344002.png)
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.
![](https://www.roboforex.ru/files/forecasts/wave/06052015/Image20150506044344003.png)
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