Analysis for December 3rd, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the retracement of 38.2%, Eurodollar is starting a new descending movement. During the day, the price may break the local minimum. Later, the market may continue its decline towards the group of lower fibo-levels at 1.0450.
![](https://www.roboforex.ru/files/forecasts/december2015/3/Image20151203124248001.png)
As we can see at the H1 chart, the current correction has completed at the retracement of 61.8% and rebounded from it. In the nearest future, the pair may resume its descending movement towards downside targets.
![](https://www.roboforex.ru/files/forecasts/december2015/3/Image20151203124248002.png)
EUR GBP, “Euro vs Great Britain Pound”
Considering that Europound has rebounded from the retracement of 61.8%, the downtrend is expected to resume. The closest target is still the group of lower fibo-levels at 0.6875.
![](https://www.roboforex.ru/files/forecasts/december2015/3/Image20151203124248003.png)
As we can see at the H1 chart, the predicted target of the current correction is confirmed by local retracements. Later, the market may continue falling towards the group of fibo-levels at 0.6945. Possibly, after reaching this area, the pair may start a local ascending correction.
RoboForex Analytical Department