Analysis for June 2nd, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues the correction. The predicted target of the current ascending movement is the retracement of 38.2%. However, if this level is broken, the current correction may yet continue.
![](https://www.roboforex.ru/files/forecasts/june2016/02/Image20160602110214001.png)
At the H1 chart, the retracement of 38.2% is confirmed by intraday fibo-levels. It looks like the price may test this area during the day. The future scenario depends on how the pair will move at this level.
![](https://www.roboforex.ru/files/forecasts/june2016/02/Image20160602110214002.png)
EUR GBP, “Euro vs Great Britain Pound”
The pair is back to growing. The pair 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/june2016/02/Image20160602110214003.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