Analysis for October 6th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating. Yesterday, the price rebounded from the group of fibo-levels at the retracement of 78.6%. In the nearest future, the market is expected to start growing towards the local high.
![](https://www.roboforex.ru/files/forecasts/oct2016/06/Image20161006130148001.png)
As we can see at the H1 chart, the target of the current correction is the retracement of 78.6%. If the price rebounds from this level, the market will start a short-term growth towards the group of fibo-levels at 1.1285.
![](https://www.roboforex.ru/files/forecasts/oct2016/06/Image20161006130148002.png)
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the uptrend continues. The closest target for bulls is the group of upside fibo-levels at 0.9090 – 0.9030. If the price rebounds from this area, the market will start a new descending correction.
![](https://www.roboforex.ru/files/forecasts/oct2016/06/Image20161006130148003.png)
At the H1 chart, the pair may test the retracement of 50% one more time. If the price rebounds from this level during the day, the market may resume growing and break the local high.
RoboForex Analytical Department