Analysis for April 27th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has been trying to resume falling for several days. Possibly, in the future the price may continue falling towards the group of lower fibo-levels at 1.0220. So far, I’m holding one sell order, but later I’m planning to increase my short position.
As we can see at the H1 chart, the pair is attempting to rebound from the upper target area. Possibly, in the nearest future the price may break the current local low. Later, the market is expected to resume falling towards the group of lower fibo-levels at 1.0580.
EUR GBP, “Euro vs Great Britain Pound”
Probably, this pair also may continue falling inside the downtrend in the nearest future. Possibly, this decline may continue up to the group of lower fibo-levels at 0.7060. After reaching them, the market may start a local correction.
Last week, the pair rebounded from retracement 78.6% during the correction. The lower targets are confirmed by local retracements. If the market makes small pauses while moving downwards, I’m planning to open several more sell orders.
RoboForex Analytical Department