Analysis for July 4th, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the
flat continues. The closest target is the retracement of 50% and fibo-levels surrounding it. If the pair rebounds from this area downwards, the market may start a new descending movement.
![](https://www.roboforex.ru/files/forecasts/july2016/04/Image20160704131316001.png)
As we can see at the H1 chart, the price has rebounded from the retracement of 38.2% and may start an ascending correction. On Monday, the pair may reach a new high and rebound from the retracement of 50%. In this case, the market may resume falling.
![](https://www.roboforex.ru/files/forecasts/july2016/04/Image20160704131316002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound rebounded from the correctional retracement of 78.6% and right now is still growing. The local correction that followed reached the retracement of 38.2% and then the price broke the maximum. The closest target for bulls is the area at 0.8480.
![](https://www.roboforex.ru/files/forecasts/july2016/04/Image20160704131316003.png)
At the H1 chart, the price is attempting to rebound from the retracement of 23.6%. If the pair fails to break this level during the day, it may continue growing towards the upside target area, which is confirmed by local fibo-levels.
RoboForex Analytical Department