Analysis for October 27th, 2015
EUR USD, “Euro vs US Dollar”
The short-term correction is taking place. Earlier, Eurodollar reached the group of fibo-levels at 1.1000. Later, the pair may resume 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 50% and rebounded from it several times. 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”
The pair is being corrected, and I’ve decided to open another sell order. In the nearest future, the market may continue moving downwards. The closest target is the area at 0.7065.
At the H1 chart, the sideways correction continues. The market is trying to rebound from the local retracement of 23.6%. On Tuesday, the market may reach new lows and continue falling towards the lower targets.
RoboForex Analytical Department