Analysis for June 10th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the correctional retracement of 61.8%, Eurodollar is trying to resume its decline. The target is still the group of downside fibo-levels at 1.0970. Consequently, after a slight correction, the market is expected to continue falling.
![](https://www.roboforex.ru/files/forecasts/june2016/10/Image20160610104658001.png)
As we can see at the H1 chart, the target of the current local correction is the retracement of 38.2%. If Eurodollar rebounds from this level, the pair may continue falling towards the group of local fibo-levels at 1.1230.
![](https://www.roboforex.ru/files/forecasts/june2016/10/Image20160610104658002.png)
EUR GBP, “Euro vs Great Britain Pound”
It’s highly likely that after finishing the current local correction, bears may continue pushing the price towards the retracement of 50%. The future scenario depends on how the pair will move there. If the market breaks it, Europound will continue falling.
![](https://www.roboforex.ru/files/forecasts/june2016/10/Image20160610104658003.png)
At the H1 chart, after rebounding from the correctional retracement of 78.6%, Europound faced resistance from the retracement of 61.8%. Consequently, on Friday the market may resume moving downwards and break the local low.
RoboForex Analytical Department