Analysis for January 6th, 2017
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trying to rebound from the correctional retracement of 50%, which means that it may start a new local descending correction. Later, the market may resume growing and test the retracement of 61.8%.
![](https://www.roboforex.ru/files/forecasts/jan2017/06/Image20170106124746001.png)
As we can see at the H1 chart, the pair is again testing the group of fibo-levels reached yesterday. It’s highly likely that in the nearest future the market may be corrected with the target at the retracement of 38.2%.
![](https://www.roboforex.ru/files/forecasts/jan2017/06/Image20170106124746002.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 then break the December’s lows.
![](https://www.roboforex.ru/files/forecasts/jan2017/06/Image20170106124746003.png)
At the H1 chart, the pair may probably test the correctional retracement of 61.8% one more time. If the price rebounds from this level again, the market may resume falling and break the local low.
RoboForex Analytical Department