Analysis for June 22nd, 2015
EUR USD, “Euro vs US Dollar”
Euro is still being corrected. In the nearest future, the price may reach a new local low, but later it is expected to continue growing. The closest target is the group of fibo-levels at 1.1550.
As we can see at the H1 chart, the target of the current correction is at local retracement 61.8%. If later the price tests this level and rebounds from it again, the market will start a new ascending movement. I’m planning to move the stop loss on my order to breakeven as soon as the market breaks the maximum.
EUR GBP, “Euro vs Great Britain Pound”
Europound is consolidating inside the downtrend. After the last descending movement, I’ve moved the stop loss on my current order to the local high. The target for the next several days is the group of fibo-levels at 0.7020.
At the H1 chart, the price may try to test a correctional retracement 38.2%. The lower targets are confirmed by local retracements. If later the price rebounds from this area, I’ll close my current order.
RoboForex Analytical Department