Analysis for September 11th, 2015
EUR USD, “Euro vs US Dollar”
The Eurodollar continues to correct. If in the future the price forms a retreat from the level of 38.2%, the beginning of the decline towards the lower accumulation of Fibo levels (1.0630) will become possible. The reverse is also correct, a break through the 38.2% line will result in a longer upward correction.
On the hourly chart the area of the alleged end of the current upward movement is confirmed by local Fibo levels. At the moment I have no active transactions, in the event of movement in the market I plan to enter the market at the next correction.
EUR GBP, “Euro vs Great Britain Pound”
The euro pound, after a series of retreats from the upper cluster of Fibo levels, continues to consolidate. In the short term a downward movement to the nearest target is possible, located in the area of 0.7220. 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 50%. The next goal is confirmed by lower local Fibo levels. In the short term a further decrease of the cross may occur.
RoboForex Analytical Department