Analysis for May 19th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling; it has successfully reached the targets specified earlier. However, in the nearest future the market continue moving downwards to reach the closest group of fibo-levels at 1.1130.
![](https://www.roboforex.ru/files/forecasts/may2016/19/Image20160519091342001.png)
As we can see at the H1 chart, the current decline started after the price rebounded from the correctional retracement of 38.2%. On Thursday, the local correction may take place, but later Eurodollar is expected to resume falling towards its downside targets, which are confirmed by intraday fibo-levels as well.
![](https://www.roboforex.ru/files/forecasts/may2016/19/Image20160519091342002.png)
EUR GBP, “Euro vs Great Britain Pound”
The pair has rebounded from the retracement of 50% and, as a result, the correction is getting deeper. The closet target for bears is the group of retracements at 0.7555. In the nearest future, the market may continue falling.
![](https://www.roboforex.ru/files/forecasts/may2016/19/Image20160519091342003.png)
At the H1 chart, the downside targets are conformed by local retracements as well. On Thursday, the price may form a short-term correction with the target at the retracement of 23.6%. If later the pair rebounds from this level, the market may resume moving downwards.
RoboForex Analytical Department