Analysis for November 17th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar is moving downwards again. Earlier, the pair rebounded from the retracement of 38.2%. In the future, the price may continue its decline towards the group of lower fibo-levels at 1.0470.
![](https://www.roboforex.ru/files/forecasts/november2015/17/Image20151117141830001.png)
As we can see at the H1 chart, the correction has completed at the retracement of 38.2%. The local target for bears is the group of fibo-levels at 1.0600. If the price rebounds from them, the market may start an ascending correction.
![](https://www.roboforex.ru/files/forecasts/november2015/17/Image20151117141830002.png)
EUR GBP, “Euro vs Great Britain Pound”
It looks like Europound has also resumed its decline. It’s highly likely that the pair is going reach a new low very soon. During the next several days, the price may continue falling towards the group of lower fibo-levels at 0.6875.
![](https://www.roboforex.ru/files/forecasts/november2015/17/Image20151117141831001.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 Tuesday and then resume its descending movement. If the price rebounds from its downside targets, the pair may start an ascending correction.
RoboForex Analytical Department