Analysis for November 15th, 2016
EUR USD, “Euro vs US Dollar”
In case of the EUR/USD pair, the local ascending correction continues. If the price rebounds from the group of fibo-levels reached earlier, the market will resume moving downwards to reach its downside targets at 1.0660 – 1.0640.
![](https://www.roboforex.ru/files/forecasts/nov2016/15/Image20161115140201001.png)
At the H1 chart, the pair is testing the local retracement of 50%. If the price rebounds from this level, the market will resume falling and break the previous low. However, if this level is broken, the current correction may continue and become deeper.
![](https://www.roboforex.ru/files/forecasts/nov2016/15/Image20161115140201002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is being corrected as well. If the price fails to stay above the retracement of 61.8%, the current decline may continue. The closest target is still the retracement of 78.6%.
![](https://www.roboforex.ru/files/forecasts/nov2016/15/Image20161115140201003.png)
Possibly, the current ascending correction may face resistance from closest group of fibo-levels at 0.8720. In this case, the pair may resume moving downwards to reach its downside targets and break the low.
RoboForex Analytical Department