Analysis for June 1st, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the correction continue. Bulls face resistance from the retracement of 23.6% and the Moving Average 21. Consequently, the market may resume falling towards its downside targets at 1.1075.
![](https://www.roboforex.ru/files/forecasts/june2016/Image20160601141705001.png)
At the H1 chart, the downside targets are confirmed by local fibo-levels. If the price rebounds from the correctional retracement of 50% during the day, the market will resume moving downwards.
![](https://www.roboforex.ru/files/forecasts/june2016/Image20160601141705002.png)
EUR GBP, “Euro vs Great Britain Pound”
The pair is back to growing. The price didn’t manage to reach the correctional retracement of 50% and has already been able to stay above the retracement of 38.2%, which means that it may continue moving upwards. The closest target is the retracement of 23.6% at 0.7850.
![](https://www.roboforex.ru/files/forecasts/june2016/Image20160601141705003.png)
At the H1 chart, the upside targets are confirmed by intraday fibo-levels. After finishing the local correction, Europound may continue growing. If the pair rebounds from these fibo-levels, it may start a new correction.
RoboForex Analytical Department