Analysis for March 23rd, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling. After rebounding from the upper levels, the price reached the group of local retracements at 1.1195 – 1.1185, but didn’t started any proper correction from here. Consequently, on Wednesday the pair may continue falling to reach the next target area at 1.1120.
![](https://www.roboforex.ru/files/forecasts/march2016/23/Image20160323134126001.png)
At the H1 chart, yesterday the price rebounded from the correctional retracement of 50% and then continued its decline. The market has already broken its local low, so it may reach its downside targets during the day.
![](https://www.roboforex.ru/files/forecasts/march2016/23/Image20160323134126002.png)
EUR GBP, “Euro vs Great Britain Pound”
The pair has started another growth and right now the target is the area between 0.8000 – 0.7990. Possibly, on Wednesday the market may move towards its upside targets and reach a new local high.
![](https://www.roboforex.ru/files/forecasts/march2016/23/Image20160323134126003.png)
At the H1 chart, the main targets are confirmed by local retracements. Right now, the market is consolidating, so I’ve decided to open a buy order. If the price rebounds from upside targets, Europound may start another correction.
RoboForex Analytical Department