Analysis for October 26th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues moving downwards. The pair has reached the group of fibo-levels at 1.10. After finishing the local correction, the price may continue falling towards the next target at 1.0930. If later the market rebounds from this target area, it may start a local ascending correction.
At the H1 chart, Eurodollar has reached the correctional retracement of 38.2%. It’s highly likely that the price may reach a new low during the day. If the pair rebounds from the lower levels, I’m planning to close my orders.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the group of upper fibo-levels, Europound has resumed falling. In the nearest future, the market may continue moving downwards. The closest target is the area at 0.7065.
As we can see at the H1 chart, the lower target area is confirmed by local retracements. The local correction has reached the retracement of 23.6%. The market may reach new lows during Monday.
RoboForex Analytical Department