Analysis for June 20th, 2016
EUR USD, “Euro vs US Dollar”
It’s highly likely that Eurodollar is going to test the correctional retracement of 61.8% one more time. If the price rebounds again, the market may resume falling towards the group of downside retracements.
![](https://www.roboforex.ru/files/forecasts/june2016/20/Image20160620141624001.png)
As we can see at the H1 chart, the price may fall a little towards the retracement of 38.2%. If the pair rebounds from it upwards during the day, the market may break the previous high and reach the target area at 1.1420.
![](https://www.roboforex.ru/files/forecasts/june2016/20/Image20160620141624002.png)
EUR GBP, “Euro vs Great Britain Pound”
During the current decline, Europound has reached the retracement of 61.8% and may rebound from it upwards. If it happens, the market may start a new ascending movement towards its local high.
![](https://www.roboforex.ru/files/forecasts/june2016/20/Image20160620141624003.png)
As we can see at the H1 chart, the retracement of 61.8% is confirmed by intraday retracements. If later the price stays above 38.2%, Europound may resume moving upwards.
RoboForex Analytical Department