Analysis for September 2nd, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has rebounded from the local correctional retracement of 38.2%, which means that it may resume falling. The closest bearish target is the group of retracements at 1.1100.
![](https://www.roboforex.ru/files/forecasts/sep2016/02/Image20160902144013001.png)
As we can see at the H1 chart, the downside targets are confirmed by intraday fibo-levels as well. Consequently, if the price rebounds from this area, the market will start a new ascending correction.
![](https://www.roboforex.ru/files/forecasts/sep2016/02/Image20160902144013002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is consolidating again. However, if the price is able to stay below the retracement of 78.6%, it may continue moving downwards. The closest target is the group of fibo-levels at 0.8350.
![](https://www.roboforex.ru/files/forecasts/sep2016/02/Image20160902144013003.png)
At the H1 chart, the target of the current correction is the retracement of 38.2%. If the price rebounds from this level, the market may resume its decline and break the local low.
RoboForex Analytical Department