Analysis for May 10th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling. It looks like quite soon the market may reach the closest group of fibo-levels at 1.1310. in case it rebounds from this area, the pair may start a new ascending correction.
![](https://www.roboforex.ru/files/forecasts/may2016/10/Image20160510145503001.png)
At the H1 chart, the closest bearish target is confirmed by intraday fibo-levels as well. During the local correction, I opened a sell order with the Stop Loss at the previous high. The market may reach its target levels during the day.
![](https://www.roboforex.ru/files/forecasts/may2016/10/Image20160510145503002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound is seriously stuck inside the current
flat. It’s highly likely that during this correction the market may reach the retracement of 50%. If the price breaks it, bears will start deeper correction.
![](https://www.roboforex.ru/files/forecasts/may2016/10/Image20160510145503003.png)
As we can see at the H1 chart, the downside targets are confirmed by local fibo-levels. I’m holding a sell order with the tight Stop Loss. On Tuesday, Europound may break the minimums reached last week.
RoboForex Analytical Department