Analysis for June 3rd, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar was just several pips shy to reach the correctional retracement of 38.2%. It’s highly likely that the price is resuming its decline. The closest target for bears is the group of fibo-levels at 1.0965.
![](https://www.roboforex.ru/files/forecasts/june2016/03/Image20160603111448001.png)
At the H1 chart, the target area, where the correction completed yesterday, is confirmed by local fibo-levels as well. In the nearest future, the market may continue falling towards the downside target area, which is confirmed by intraday retracements.
![](https://www.roboforex.ru/files/forecasts/june2016/03/Image20160603111448002.png)
EUR GBP, “Euro vs Great Britain Pound”
It looks like Europound 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/june2016/03/Image20160603111448003.png)
At the H1 chart, the closest target of the current correction is the retracement of 38.2%. If the pair rebounds from this level, it may resume moving upwards and reach the upside target area.
RoboForex Analytical Department