Analysis for February 26th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the upper fibo-levels, Eurodollar is trying to resume falling. The closest target for bears is the group of fibo-levels at 1.0940. I’m planning to stop trading after the pair reaches the above-mentioned area.
At the H1 chart, the pair is attempting to rebound from a local retracement 61.8%. The intermediate target is the group of fibo-levels at 1.1180. Possibly, later the pair may start a new short-term correction from the lower levels.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from a correctional retracement 78.6%, the price started falling again. The target is still at the group of lower fibo-levels. In the near term, the market is expected to continue moving inside the downtrend.
As we can see at the H1 chart, the price has started a local correction. Later, the pair is expected to reach the lower target area, after reaching it, the market may rebound and start a new and larger correction.
RoboForex Analytical Department