Analysis for August 25th, 2015
After reaching the targets defined earlier, the pair has started a new correction. If the price rebounds from the retracement of 38.2%, it may resume growing. In this case, the target will be the group of upper fibo-levels.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the target of the local correction is confirmed by local retracements. If the price rebounds from them, I’m planning to open a short-term buy order.
EUR GBP, “Euro vs Great Britain Pound”The pair is also being corrected; the retracement of 38.2% has provided resistance. If the market rebounds from this level, it may resume growing towards the upper target levels.
At the H1 chart, the predicted target of the current correction is confirmed by local retracements. It looks like the market is going to rebounds from the retracement of 38.2% during the day. After that, the pair is expected to resume moving upwards.
RoboForex Analytical Department
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