Analysis for December 9th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair rebounded from the correctional retracement of 38.2% and started falling quickly. As a result, in the nearest future the market may fall towards the closest group of fibo-levels at 1.0350.
![](https://www.roboforex.ru/files/forecasts/dec2016/09/Image20161209150543001.png)
As we can see at the H1 chart, the pair is getting closer to the group of fibo-levels, from which it rebounded earlier. If the price is able to break this area this time, the market may continue moving downwards.
![](https://www.roboforex.ru/files/forecasts/dec2016/09/Image20161209150543002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still being corrected, but may yet continue moving upwards. Consequently, in the nearest future the market may resume growing towards the retracement of 38.2%.
![](https://www.roboforex.ru/files/forecasts/dec2016/09/Image20161209150543003.png)
At the H1 chart, the downside target is the retracement of 78.6%. If later the price rebounds from this level, the market may start a new ascending movement. Otherwise, it may continue moving downwards.
RoboForex Analytical Department