Analysis for February 18th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the group of upper fibo-levels, Eurodollar has 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/feb2016/18/Image20160218141804001.png)
At the H1 chart, the downside target is confirmed by the local retracements. It’s highly likely that on Thursday, the pair may break the local low.
![](https://www.roboforex.ru/files/forecasts/feb2016/18/Image20160218141804002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound has successfully reached its upside targets and right now is being corrected. After completing the short-term correction, the price may continue falling towards the group of local retracements at 0.7690.
![](https://www.roboforex.ru/files/forecasts/feb2016/18/Image20160218141804003.png)
At the H1 chart, the closest targets of the current descending movement are confirmed by local retracements. Earlier, the pair rebounded from the correctional retracement of 61.8%, and, as a result, started a new descending movement.
RoboForex Analytical Department