Analysis for December 7th, 2015
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the ascending correction continues; its closest target is at the group of fibo-levels close to the correctional retracement of 50%. If this level is broken, the market may continue its growth towards the retracement of 61.8%.
![](https://www.roboforex.ru/files/forecasts/december2015/5/Image20151207141431001.png)
At the H1 chart, the price is moving near the local retracement of 38.2%. If the price rebounds from this retracement upwards, it may resume its ascending movement towards upside targets.
![](https://www.roboforex.ru/files/forecasts/december2015/5/Image20151207141431002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound has started an ascending correction as well. The closest is the local group of fibo-levels at 0.7295. Possibly, the market may resume its growth towards upside targets during the day.
![](https://www.roboforex.ru/files/forecasts/december2015/5/Image20151207141431003.png)
As we can see at the H1 chart, the price is trying to rebound from the retracement of 38.2%. It’s highly likely that on Monday the pair may complete the local correction. In addition to that, if the market breaks the group of upper fibo-levels and stays above them, the ascending movement may continue much higher.
RoboForex Analytical Department