Analysis for April 27th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected. It’s highly likely that on Wednesday the price may test the local high. If the pair rebounds from it, the market may resume falling towards the group of downside fibo-levels.
As we can see at the H1 chart, the Eurodollar has already rebounded from the correctional retracement of 61.8% twice. It’s highly likely that in the nearest future, bulls may try test this level once more. If the market rebounds from it again, the price may move to reach the closest group of retracements at 1.1190 – 1.1200.
EUR GBP, “Euro vs Great Britain Pound”
Europound got very close to the minimum reached yesterday and right now continues moving downwards. In the nearest future, the market may continue falling towards the closest group of retracements at 0.7730 – 0.7715.
At the H1 chart, on Monday the price rebounded from the local retracement of 38.2%. In the nearest future, after finishing the local correction, the market may continue its decline towards the downside targets, which are confirmed by intraday fibo-levels.
RoboForex Analytical Department