Analysis for June 13th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the correctional retracement of 61.8%, Eurodollar is trying to resume its decline. The main target for bears is still the group of downside fibo-levels at 1.0970. During the week, the market is expected to continue falling towards this area.
![](https://www.roboforex.ru/files/forecasts/june2016/13/Image20160613114915001.png)
As we can see at the H1 chart, the price may rebound from the local correctional retracement of 23.6%. In case it does happen, the closest target for Eurodollar will be the group of retracements at 1.1180. After reaching them, the market may start an ascending correction.
![](https://www.roboforex.ru/files/forecasts/june2016/13/Image20160613114915002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound continues growing. The next target for bulls is the group of fibo-levels at 0.8030 – 0.8050. If this area provides resistance, bears will start a new descending correction.
![](https://www.roboforex.ru/files/forecasts/june2016/13/Image20160613114915003.png)
As we can see at the H1 chart, the local target is the group of intraday fibo-levels at 0.8000. If the price rebounds from this area, Europound may start a short-term correction.
RoboForex Analytical Department