Analysis for November 19th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has started another correction. It’s highly likely that in the nearest future the market may test the retracement of 61.8%. If the price rebounds from it, the pair may continue its decline towards downside targets.
As we can see at the H1 chart, the predicted target of the current correction is confirmed by local retracements. If the pair rebounds from the retracement of 61.8%, I’m planning to open another sell order.
EUR GBP, “Euro vs Great Britain Pound”
In case of Europound, the local correction is taking place as well. It looks like in the nearest future the market may resume its decline towards the group of lower fibo-levels at 0.6875.
As we can see at the H1 chart, the target of the current short-term correction is at the retracement of 38.2%. If the price rebounds from it, the market start falling towards the local group of fibo-levels at 0.6945.
RoboForex Analytical Department