Analysis for June 22nd, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, Eurodollar rebounded from the correctional retracement of 50%, which means that it may resume falling. The target is still the group of downside retracements at 1.0960.
![](https://www.roboforex.ru/files/forecasts/june2016/22/Image20160622143832001.png)
At the H1 chart, the target of the current local correction is the retracement of 38.2%. If the price rebounds from it in the nearest future, the pair may update the minimum and reach the area at 1.1215 by the end of today’s trading session.
![](https://www.roboforex.ru/files/forecasts/june2016/22/Image20160622143832002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound is attempting to rebounds from the correctional retracement of 78.6%, which means that it may start a local ascending correction at least. However, if the market beaks this levels, the market may continue falling much faster and even break May’s low.
![](https://www.roboforex.ru/files/forecasts/june2016/22/Image20160622143832003.png)
As we can see at the H1 chart, the retracement of 78.6% is confirmed by intraday fibo-levels. If the price breaks the retracement of 61.8% during the day, the pair may start a correction. Otherwise, if the pair rebounds from this retracement downwards, Europound may fall and break yesterday’s low.
RoboForex Analytical Department