Analysis for May 5th, 2015
EUR USD, “Euro vs US Dollar”
The pair is still being corrected. The closest target at the H4 chart is the group of fibo-levels at 1.1520. I’m planning to open another buy order after the price resumes growing and breaks the maximum.
At the H1 chart, the price nay return to retracement 38.2%. If it rebounds from this level, the market may resume moving upwards. The upper targets are confirmed by local retracements. Probably, the market may break Friday’s maximum in the nearest future.
EUR GBP, “Euro vs Great Britain Pound”
Euro pound is being corrected, but may yet continue moving upwards. Right now, the target for bulls is the group of fibo-levels at 0.7470. I’m holding three buy order and planning to open another one when the pair n=breaks the maximum.
If the pair is able to rebound from retracement 23.6% at the H1 chart, the uptrend may resume. If the future, after reaching the group of upper fibo-levels, the price may start a larger correction.
RoboForex Analytical Department