Analysis for September 17th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is testing the correctional retracement of 38.2% again. If the price rebounds from this level, I’m planning to open another sell order. The main target is still the group of lower fibo-levels at 1.0630.
At the H1 chart, the predicted target of the current correction, which is at the retracement of 38.2%, is confirmed by local retracements. I’m holding one sell order. If later the price is able to stay below the retracement of 23.6%, I’m planning to open another sell order.
EUR GBP, “Euro vs Great Britain Pound”
Europound was just several tens of pips shy to reach the group of upper fibo-levels again, when the price resumed falling. Later, the market may continue falling towards the closest target at 0.7220.
At the H1 chart, the local correction is taking place. It’s highly likely that during the day the price may reach a new low. If later the pair is able to break the group of lower fibo-levels, it may continue falling much deeper.
RoboForex Analytical Department