Analysis for November 16th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar has completed the local correction. Last week, the pair rebounded from the retracement of 38.2%. In the future, the price may resume its decline towards the group of lower fibo-levels at 1.0610.
![](https://www.roboforex.ru/files/forecasts/november2015/16/Image20151116151026001.png)
As we can see at the H1 chart, the target of the current correction is the retracement of 38.2%. Possibly, in the nearest future the price may resume its decline. We should note that if the market breaks the lower levels, the pair might continue falling much faster.
![](https://www.roboforex.ru/files/forecasts/november2015/16/Image20151116151026002.png)
EUR GBP, “Euro vs Great Britain Pound”
Probably, Europound has also finished the correction. It’s highly likely that the pair is going reach a new low very soon. Later, the price may resume its decline to reach the group of lower fibo-levels at 0.6875.
![](https://www.roboforex.ru/files/forecasts/november2015/16/Image20151116151026003.png)
As we can see at the H1 chart, the lower targets are confirmed by local retracements. It’s highly likely that the market may reach a new high on Monday and then resume its descending movement. If the price rebounds from its downside targets, the pair may start an ascending correction.
RoboForex Analytical Department