Analysis for November 25th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still being corrected. In the nearest future, the market may resume falling to reach its downside targets at 1.0450. If later the price rebounds from this area to the upside, the market may start a more significant ascending correction.
At the H1 chart, the pair rebounded from the local correctional retracement of 61.8%. However, on Friday the price may test the retracement of 78.6%. If the price rebounds from this level, the market may resume falling.
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the correction continues as well. The closest target for bears is the group of fibo-levels at 0.8420. If later the price rebounds from this area, the market may start a new ascending correction.
As we can see at the H1 chart, the pair rebounded quickly from the local retracement of 50%, which means that it may resume falling. After the local correction, bears may try to break the previous low.
RoboForex Analytical Department
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