Analysis for January 5th, 2017
EUR USD, “Euro vs US Dollar”
After rebounding from the group of downside fibo-levels several times, the EUR/USD pair started a new ascending correction. The price couldn’t reach the retracement of 78.6% on the first try. As a result, in the nearest future the market may resume growing towards this level.
![](https://www.roboforex.ru/files/forecasts/jan2017/05/Image20170105125215001.png)
As we can see at the H1 chart, the closest target of the current descending correction is the retracement of 50% at 1.0455. If later the market rebounds from this level, the price may resume its growth and break the local high.
![](https://www.roboforex.ru/files/forecasts/jan2017/05/Image20170105125215002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair rebounded from the retracement of 38.2% and several local fibo-levels. As a result, after finishing the local correction, the market may resume its decline and break the December’s lows.
![](https://www.roboforex.ru/files/forecasts/jan2017/05/Image20170105125215003.png)
At the H1 chart, the pair rebounded from the correctional retracement of 61.8%. Consequently, in the nearest future the market may resume falling and break the local low. The downside targets are confirmed by intraday fibo-levels.
RoboForex Analytical Department