Analysis for January 11th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the retracement of 61.8%, Eurodollar has started a fast growth. During the week, the pair may continue its ascending movement towards the group of upper fibo-levels at 1.1110 – 1.1090. Consequently, soon the market may break the December’s high.
![](https://www.roboforex.ru/files/forecasts/jan2016/11/Image20160111144605001.png)
At the H1 chart, the intraday correction is taking place. If later the pair rebounds from the group of local retracements, it may start a new ascending movement. The closest target is the area at 1.1010.
![](https://www.roboforex.ru/files/forecasts/jan2016/11/Image20160111144605002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound has reached the group of fibo-levels at 0.7530. It looks like in the nearest future, after completing the local correction, the price will continue moving towards the next group of fibo-levels at 0.7610.
![](https://www.roboforex.ru/files/forecasts/jan2016/11/Image20160111144605003.png)
At the H1 chart, the current correction may be supported by the retracement of 61.8% (0.7470). If the price rebounds from this level, it may resume moving upwards. If later the market rebounds from the upside target area, the pair may start a descending correction.
RoboForex Analytical Department