Analysis for December 16th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the group of local fibo-levels, the EUR/USD pair started a new correction. However, in the nearest future the market may resume falling. The closest target is the area at 1.0200.
![](https://www.roboforex.ru/files/forecasts/dec2016/16/Image20161216104814001.png)
At the H1 chart, the target of the local ascending correction is the retracement of 38.2%. If the price rebounds from this level in the nearest future, the market may resume moving downwards.
![](https://www.roboforex.ru/files/forecasts/dec2016/16/Image20161216104815001.png)
EUR GBP, “Euro vs Great Britain Pound”
In case of the EUR/GBP pair, the local descending correction may yet continue. Consequently, in the nearest future the market may reach the retracement of 38.2% at 0.8610, which is confirmed by intraday fibo-levels.
![](https://www.roboforex.ru/files/forecasts/dec2016/16/Image20161216104815002.png)
As we can see at the H1 chart, the pair managed to stay above the correctional retracement of 78.6%. As a result, in the nearest future the market may resume growing towards the local high.
RoboForex Analytical Department