Analysis for November 13th, 2015
EUR USD, “Euro vs US Dollar”
Probably, the local correction continues. In the nearest future, after rebounding from the retracement of 38.2%, the pair may resume its decline towards the group of lower fibo-levels at 1.0610. If later the price rebounds from this area, it may start a new ascending correction.
As we can see at the H1 chart, the target of the current correction is the retracement of 38.2%. Possibly, in the nearest future the price may resume its decline. We should note that if the market breaks the lower levels, the pair might continue falling much faster.
EUR GBP, “Euro vs Great Britain Pound”
Probably, Europound is about to complete its correction. It’s highly likely that the pair is going to rebound from the retracement of 50% once again. Later, the price may resume its decline to reach the group of lower fibo-levels at 0.6875.
As we can see at the H1 chart, the lower targets are confirmed by local retracements. It’s highly likely that the market may reach a new high on Friday and then resume its descending movement. If the price rebounds from its downside targets, the pair may start an ascending correction.
RoboForex Analytical Department