Analysis for February 17th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded from the group of upper fibo-levels and started a new correction. The closest target is the group of local retracements at 1.1100. If the price breaks them, the market may continue falling.
![](https://www.roboforex.ru/files/forecasts/feb2016/17/Image20160217150536001.png)
At the H1 chart, the downside target is confirmed by the local retracements. It’s highly likely that on Wednesday, the pair may break yesterday’s low.
![](https://www.roboforex.ru/files/forecasts/feb2016/17/Image20160217150536002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound has successfully reached its upside targets and right now is being corrected. After a short-term correction, the price may continue falling towards the group of local retracements at 0.7690.
![](https://www.roboforex.ru/files/forecasts/feb2016/17/Image20160217150536003.png)
At the H1 chart, the closest targets of the current descending movement are confirmed by local retracements. Right now, the pair is moving under the correctional retracement of 61.8%, which means that it may start a new descending movement quite soon.
RoboForex Analytical Department