Analysis for October 5th, 2015
EUR USD, “Euro vs US Dollar”
The pair is moving inside the flat
. Earlier, Eurodollar rebounded from the retracement of 61.8% and started moving downwards. The main target is still the group of lower fibo-levels at 1.0640.
After Friday’s growth, the pair has returned to the previous levels. It’s highly likely that during the day the local correction may finish at the retracement of 50%. The short-term target for bears is still the group of retracements at 1.0940.
EUR GBP, “Euro vs Great Britain Pound”
Europound has rebounded from the group of upper fibo-levels once again, thus decreasing its chances to continue moving upwards. It’s highly likely that in the nearest future the pair may start a short-term correction (at least) with the target at 0.7280.
At the H1 chart, the local correction is taking place. It looks like the pair is going to reach a new local low on Monday. The lower targets from the H4 chart are confirmed by local retracements.
RoboForex Analytical Department