Analysis for January 6th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has reached its target close to the group of fibo-levels at 1.0730. In the future, the price may start a new local correction, which may be followed by a further decline towards the next target in the area at 1.0640 – 1.0620.
![](https://www.roboforex.ru/files/forecasts/jan2016/6/Image20160106141938001.png)
At the H1 chart, the pair may form an ascending correction with the target at the retracement of 38.2%. If the price rebounds from this level, it may resume falling and break yesterday’s low.
![](https://www.roboforex.ru/files/forecasts/jan2016/6/Image20160106141938002.png)
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the group of upper fibo-levels downwards, Europound has resumed its decline. During the next several days, the market may continue falling. The closest target for bears is the area at 0.7290.
![](https://www.roboforex.ru/files/forecasts/jan2016/6/Image20160106141938003.png)
At the H1 chart, the upside target area has been confirmed by local retracements. In the nearest future, the price may form a correction towards the retracement of 38.2%, which may be followed by a further decline towards its downside target and breakout of the December’s low. If the market breaks 0.7290, the pair may continue falling much deeper.
RoboForex Analytical Department