Analysis for October 13th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is trying to rebound from the group of fibo-levels, which may result in a new local ascending correction. However, later the price may resume falling towards the downside target area at 1.0850.
![](https://www.roboforex.ru/files/forecasts/oct2016/13/Image20161013121959001.png)
As we can see at the H1 chart, the downside target area is confirmed by intraday fibo-levels as well, which make it even more important. Consequently, on Thursday the pair may start growing to reach the correctional retracement of 38.2%.
![](https://www.roboforex.ru/files/forecasts/oct2016/13/Image20161013121959002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair rebounded from its upside targets and right now continues consolidating. In the nearest future, the price may be corrected towards the retracement of 38.2%. If later the market rebounds from this level, it may start a new growth.
![](https://www.roboforex.ru/files/forecasts/oct2016/13/Image20161013121959003.png)
At the H1 chart, the current ascending correction was stopped by the retracement of 50%, which means that the pair may continue falling. The closest target is the correctional retracement of 38.2%, which is confirmed by intraday fibo-levels.
RoboForex Analytical Department