Analysis for March 17th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has started a fast ascending movement. The closest target is the group of upper fibo-levels at 1.1375. If the price rebounds from this area, the pair may start a new descending correction.
At the H1 chart, the upside targets are confirmed by local retracements. In the nearest future, the market be corrected towards the retracement of 23.6% or 38.2%. If the price rebounds from these levels, the market may resume moving upwards.
EUR GBP, “Euro vs Great Britain Pound”
Europound is also back to growing. After completing the local correction, the market may continue moving upwards to reach the upper levels at 0.7990 – 0.8000. If the price rebounds from this area, the pair may start a new descending correction.
At the H1 chart, the upper targets are confirmed by intraday retracements. In the nearest future, the market may complete the local correction and resume its ascending movement.
RoboForex Analytical Department
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