Analysis for December 5th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the group of downside fibo-levels. Consequently, on Monday the price may test the correctional retracement of 23.6%. If the pair rebounds from this level, the market may resume its decline.
![](https://www.roboforex.ru/files/forecasts/dec2016/05/Image20161205124613001.png)
As we can see at the H1 chart, the upside target area is confirmed by intraday fibo-levels. On Monday, the pair may reach a new local high. If the price rebounds from its closest targets, the market may resume its decline.
![](https://www.roboforex.ru/files/forecasts/dec2016/05/Image20161205124613002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair reached a new low. In the nearest future, after finishing the local correction, the market may resume falling towards its downside targets at 0.8245.
![](https://www.roboforex.ru/files/forecasts/dec2016/05/Image20161205124613003.png)
At the H1 chart, the closest target of the ascending correction is the retracement of 50%. If the price rebounds from this area, the pair may resume falling and reach the closest group of retracements.
RoboForex Analytical Department