Analysis for August 19th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is testing the group of retracements it broke yesterday, which now may provide support. If the price rebounds from this area, the market may resume growing.
![](https://www.roboforex.ru/files/forecasts/august2016/19/Image20160819131231001.png)
At the H1 chart, the pair rebounded from the correctional retracement of 50%, which means that the correction may finish soon. Consequently, in the nearest future the market may break the local high and reach its upside targets at 1.1425.
![](https://www.roboforex.ru/files/forecasts/august2016/19/Image20160819131231002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still moving upwards. Possibly, during the day the price may test the correctional retracement of 38.2%. If it rebounds from this level, the market may start another growth.
![](https://www.roboforex.ru/files/forecasts/august2016/19/Image20160819131231003.png)
As we can see at the H1 chart, the correctional retracements of 38.2% is confirmed by several intraday fibo-levels. On Friday, the market may break the local low, but if the price rebounds from test this area, it may try to resume growing.
RoboForex Analytical Department