Analysis for November 30th, 2015
EUR USD, “Euro vs US Dollar”
It looks like after rebounding from the retracement of 61.8%, Eurodollar has resumed its decline. The main target is still the group of lower fibo-levels at 1.0450. it’s highly likely that the price may break the local low on Monday.
At the end of the last week, the price rebounded from the local retracements of 61.8%. During the day, the local correction may take place, which may be followed by a further decline of the pair towards its downside targets.
EUR GBP, “Euro vs Great Britain Pound”
Europound has rebounded from the retracement of 38.2% twice, that’s why we can expected it to resume its descending movement. The closest target is the group of lower fibo-levels at 0.6875.
At the H1 chart, Europound has rebounded from the retracement of 61.8% during the local correction. Later the market may continue falling towards the group of fibo-levels at 0.6945. It’s highly likely that on Monday the pair may reach a new low.
RoboForex Analytical Department
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