Analysis for October 4th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the group of local fibo-levels close to the retracement of 78.6% for the second time. Consequently, on Tuesday the market may start a short-term growth towards the group of fibo-levels at 1.1205.
![](https://www.roboforex.ru/files/forecasts/oct2016/04/Image20161004132717001.png)
As we can see at the H1 chart, there are several local fibo-levels in the rebound area, which make it even more important. When the price rebounded from the above-mentioned area, I opened a buy order with the Stop Loss a bit lower than the previous low.
![](https://www.roboforex.ru/files/forecasts/oct2016/04/Image20161004132717002.png)
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the target is still the group of upside fibo-levels at 0.9090 – 0.9030. Yesterday, the price broke the high and in the future may continue moving upwards without any obstacles. Consequently, on Tuesday the market may continue growing.
![](https://www.roboforex.ru/files/forecasts/oct2016/04/Image20161004132717003.png)
At the H1 chart, the pair upside targets are confirmed by intraday fibo-levels. Earlier, the price rebounded from the correctional retracement of 61.8%. As a result, the market may continue moving upwards during the day.
RoboForex Analytical Department