Analysis for September 9th, 2015
EUR USD, “Euro vs US Dollar”
The market is trying to resume its decline. The immediate goal is the accumulation of lower fibo levels (1.0000 - 0.9970). Two deals to sell are still active and late I plan to increase the volume of short positions.
On the hourly chart the price has formed a retreat from the local level of 50%. Lower accumulation of Fibo levels around 1.1055 still remains relevant. Later on a correction may start in this price region.
EUR GBP, “Euro vs Great Britain Pound”
The Europound formed a double retreat from the congestion of the upper Fibo levels. In the short term downward movement to the nearest target, located in the area of 0.7220 is possible. In case of breaking through this level a deeper decline will become possible.
On the hourly chart the price has formed a retreat from the correctional level of 61.8%. The next goal is confirmed by lower local Fibo levels. In the short term a further decrease of the cross is possible.
RoboForex Analytical Department