Analysis for July 26th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is attempting to resume its decline. Earlier, the pair rebounded from the correctional retracement of 50%. Consequently, in the nearest future the market may continue falling towards the group of downside retracements at 1.0810.
![](https://www.roboforex.ru/files/forecasts/july2016/26/Image20160726152844001.png)
As we can see at the H1 chart, the price has rebounded from the local correctional retracement of 61.8%. As a result, the pair may continue moving downwards. The downside targets are confirmed by local fibo-levels.
![](https://www.roboforex.ru/files/forecasts/july2016/26/Image20160726152844002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound hasn’t been able to fix above the correctional retracement of 38.2%. Consequently, in the nearest future the market may start a new descending movement towards the retracement of 50%. After the pair breaks the retracement of 23.6%, bears will return to the market.
![](https://www.roboforex.ru/files/forecasts/july2016/26/Image20160726152844003.png)
As we can see at the H1 chart, the price has rebounded both from the retracement of 50% and local fibo-levels. Consequently, in the future the market may fall and reach several new lows.
RoboForex Analytical Department