Analysis for May 26th, 2016
EUR USD, “Euro vs US Dollar”
It looks like Eurodollar is about to resume its decline. After rebounding from the group of fibo-levels, the price reached the Moving Average and the correctional retracement of 23.6%. Consequently, if the pair rebounds from these levels, it may resume falling to reach the closest group of retracements at 1.1070.
![](https://www.roboforex.ru/files/forecasts/may2016/26/Image20160526114455001.png)
At the H1 chart, Eurodollar is attempting to rebound from the local correctional retracement of 50%. The closest targets are confirmed by intraday fibo-levels. As a result, the price may reach a new low quite soon.
![](https://www.roboforex.ru/files/forecasts/may2016/26/Image20160526114455002.png)
EUR GBP, “Euro vs Great Britain Pound”
Probably, Europound is about to start falling towards the retracement of 61.8%, which is confirmed by several local fibo-levels. Earlier, the price rebounded from the correctional retracement of 50% and started the current decline. The market may resume falling during the day.
![](https://www.roboforex.ru/files/forecasts/may2016/26/Image20160526114455003.png)
At the H1 chart, the price is trying to rebound from the local correctional retracement of 23.6%. Consequently, quite soon Europound may break its low and continue falling towards its downside targets, which are confirmed by local retracements.
RoboForex Analytical Department