Analysis for October 14th, 2016
Yesterday, the EUR/USD pair rebounded from the group of local fibo-levels and started a new ascending correction, which may yet continue for a while. Later, the price may resume falling towards the downside target area at 1.0845.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the local correction rebounded from the intraday retracement of 61.8%, which means that the ascending correction may yet continue towards the retracement of 38.2%. If later the price rebounds from this level, the market will resume falling.
The EUR/GBP pair rebounded from the group of upside fibo-levels and started the current correction. In the nearest future, the price may move towards the retracement of 38.2%. If later the market rebounds from this level, it may start a new growth.
EUR GBP, “Euro vs Great Britain Pound”
At the H1 chart, yesterday the pair rebounded from the local correctional retracement of 50% and resumed falling. The closest target is the retracement of 38.2%. If the price breaks it, the correction will become deeper.
RoboForex Analytical Department
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