Analysis for August 20th, 2015
EUR USD, “Euro vs US Dollar”
The pair has started a new local correction. Earlier, Eurodollar rebounded from the group of upper fibo-levels, which means that it may resume falling. Later the price may start moving towards the lower targets at 1.0670 – 1.0650.
As we can see at the H1 chart, the pair may rebound from the local correctional retracement of 61.8% during the current correction. If it happens, I’m planning to increase my short position. The closest target is the group of fibo-levels at 1.0960 – 1.0950.
EUR GBP, “Euro vs Great Britain Pound”
Last week, Europound successfully reached the group of upper fibo-levels. I opened a sell order during the current correction. Later the market may continue falling. The target is still the group of lower fibo-levels.
If the pair rebounds from the correctional retracement of 61.8% during the day, it may resume moving downwards. The closest target is the local area at 0.6980 - 0.6975, formed by several retracements.
RoboForex Analytical Department