Analysis for March 9th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the group of fibo-levels at 1.1030 for the second time, Eurodollar has started a local descending correction. However, the market may resume its growth quite soon and move towards the upper levels at 1.1095.
![](https://www.roboforex.ru/files/forecasts/march2016/9/Image20160309150927001.png)
At the H1 chart, the target of the correction is the local retracement of 50%. If the price rebounds from it upwards, the pair may resume its ascending movement and break the high reached last week.
![](https://www.roboforex.ru/files/forecasts/march2016/9/Image20160309150928001.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound has rebounded from the local correctional retracement of 38.2%. Consequently, the price may resume its decline. The closest target for bears is the group of fibo-levels at 0.7610.
![](https://www.roboforex.ru/files/forecasts/march2016/9/Image20160309150928002.png)
At the H1 chart, the pair has rebounded from the group of local fibo-levels, which means that it may resume its descending movement. The downside target area is confirmed by local retracements.
RoboForex Analytical Department