Analysis for June 9th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, Eurodollar reached the correctional retracement of 61.8%, but bulls couldn’t break it. As a result, the price may resume falling to reach the target, which is the group of downside fibo-levels at 1.0970.
![](https://www.roboforex.ru/files/forecasts/june2016/09/Image20160609120415001.png)
At the H1 chart, Eurodollar has rebounded from the upside target area, which was confirmed by local fibo-levels. Later, the pair may continue falling towards the closest group of fibo-levels near the retracement of 61.8% at 1.1230.
![](https://www.roboforex.ru/files/forecasts/june2016/09/Image20160609120415002.png)
EUR GBP, “Euro vs Great Britain Pound”
It’s highly likely that the current correction may yet continue. Possibly, quite soon, bears may reach the retracement of 50%. The future scenario depends on how the price will move there. If the price breaks it, the market will continue falling.
![](https://www.roboforex.ru/files/forecasts/june2016/09/Image20160609120415003.png)
As we can see at the H1 chart, the price has rebounded twice from the correctional retracement of 78.6%, which means that the correction may continue. The closest target is the retracement of 50% at 0.740, which is confirmed by intraday fibo-levels.
RoboForex Analytical Department