Analysis for June 1st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving inside flat
. Last Friday, the price rebounded from retracement 50%, and, possibly, it may be a signal for the market to resume the downtrend. The main target is still the group of lower fibo-levels at 1.0720.
As we can see at the H1 chart, the lower targets are confirmed by local retracements. I opened a sell order when the price rebounded from the upper fibo-levels. I’ve already moved the stop loss on my sell order to breakeven and in the future plan to open another order.
EUR GBP, “Euro vs Great Britain Pound”
At the end of last week, Europound rebounded from a correctional retracement 61.8%. Probably, in the future the pair may fall towards its previous lows. The closest target is still the group of lower fibo-levels at 0.6975.
As we can see at the H1 chart, the price is moving below retracement 50%. Probably, in the future the pair may start another descending movement towards the lower targets, which are confirmed by local retracements.
RoboForex Analytical Department