Analysis for June 23rd, 2016
EUR USD, “Euro vs US Dollar”
Being influenced by the news, Eurodollar has broken the correctional retracement of 50% after all. Consequently, during the day the price may test the retracement of 61.8% again, from which it rebounded earlier. If this level is broken, the market will continue growing towards the retracement of 78.6%.
![](https://www.roboforex.ru/files/forecasts/june2016/23/Image20160623125425001.png)
As we can see at the H1 chart, the closest group of fibo-levels near the retracement of 61.8% is confirmed by intraday fibo-levels. Earlier, the price rebounded from the correctional retracement of 50%. If the price breaks the retracement of 61.8% (1.1415) during the day, the pair will continue growing towards the retracement of 78.6% (1.1500).
![](https://www.roboforex.ru/files/forecasts/june2016/23/Image20160623125425002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound is attempting to rebound 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/june2016/23/Image20160623125425003.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 its local low.
RoboForex Analytical Department