Analysis for July 2nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to resume its movement inside the downtrend. In the future, the pair may break the previous low. The closest target is still the group of fibo-levels at 1.0660.
As we can see at the H1 chart, the bearish gap, which took place during the market opening on Monday, was completely eliminated. The market rebounded from a local retracement 38.2%. The lower targets are confirmed by local retracements.
EUR GBP, “Euro vs Great Britain Pound”
After a significant gap down, Europound has started a fast ascending correction. The target for the next several days is still the group of fibo-levels at 0.7020. After the local correction, I’m planning to open another sell order.
At the H1 chart, the price has rebounded from retracement 78.6% during the correction. The lower targets are confirmed by local retracements. If later the price rebounds from this area, the market may start an ascending correction.
RoboForex Analytical Department