Analysis for April 30th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues growing steadily. Yesterday the pair reached the group of fibo-levels close to a correctional retracement 61.8%. Possibly, during the week the market may continue growing towards the next target area at 1.1250.
At the H1 chart, the upper targets are confirmed by local retracements. During the correction, I opened another buy order. I’ve already moved the stop loss on both orders to breakeven; Most likely, the market may break the maximum in the nearest future.
EUR GBP, “Euro vs Great Britain Pound”
In case of Euro pound, the correction may yet become deeper. During the correction, I opened another buy order. Probably, the price may break the previous high during the week. The target is the group of fibo-levels at 0.7250.
As we can see at the H1 chart, the upper targets are confirmed by local retracements. I’m planning to increase my long position if the price continues growing towards the above-mentioned area. We should also note that if the market breaks these retracements, the correction may continue.
RoboForex Analytical Department