Analysis for April 18th, 2016
EUR USD, “Euro vs US Dollar”
The local correction continues. It’s highly likely that during the day Eurodollar may test the retracement of 38.2%. If the price rebounds from it, the pair will resume falling towards the group of downside retracements at 1.1200 – 1.1190.
![](https://www.roboforex.ru/files/forecasts/april2016/18/Image20160418133458001.png)
At the H1 chart, the correctional retracement of 38.2% is confirmed by intraday fibo-levels. If the price rebounds fast from this level, I’m planning to open a sell order with the stop loss at the local high. However, if the market stays above this level, the pair will form a much deeper ascending correction.
![](https://www.roboforex.ru/files/forecasts/april2016/18/Image20160418133458002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound may yet continue moving downwards. The closest target for bears is at the correctional retracement of 78.6%. If the pair rebounds from this level upwards, the market may resume its ascending movement.
![](https://www.roboforex.ru/files/forecasts/april2016/18/Image20160418133458003.png)
As we can see at the H1 chart, the price has rebounded from the correctional retracement of 50% and surrounding intraday levels. It’s highly likely that the market may break the last week’s minimum and reach the predicted bearish targets by Tuesday.
RoboForex Analytical Department