Analysis for November 26th, 2015
EUR USD, “Euro vs US Dollar”
Yesterday, Eurodollar rebounded from the retracement of 61.8% and reached a new low. Right now, the local correction is taking place, which may be followed by another new low. The main target is still the group of lower fibo-levels at 1.0450.
As we can see at the H1 chart, the target of the current local correction is at the retracements of 61.8%. If the price rebounds from it during the day, the market may resume falling towards downside targets.
EUR GBP, “Euro vs Great Britain Pound”
On Wednesday, Europound rebounded from the retracement of 38.2%, which means that it may start a new descending movement. It looks like in the nearest future the market may continue its decline towards the group of lower fibo-levels at 0.6875.
As we can see at the H1 chart, Europound has rebounded from the retracement of 50% during the local correction. It’s highly likely that on Thursday the pair may reach a new low. Later the market may continue falling towards the local group of fibo-levels at 0.6945. After reaching them, the price may start an ascending correction.
RoboForex Analytical Department