Analysis for March 29th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded from the group of local retracements at 1.1200 – 1.1185, which means that it may resume its descending movement. In the nearest future, the price may continue falling towards its downside targets at 1.1065 – 1.1050.
![](https://www.roboforex.ru/files/forecasts/march2016/29/Image20160329104037001.png)
At the H1 chart, the downside targets are confirmed by local retracements. It’s highly likely that on Tuesday the price may reach a new weekly low. However, if the market breaks yesterday’s highs, the current ascending correction may yet continue.
![](https://www.roboforex.ru/files/forecasts/march2016/29/Image20160329104037002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound is still being corrected. In the nearest future, the market may resume its ascending movement towards the closest group of fibo-levels between 0.8000 – 0.7990. If the price rebounds from this area, the marker may start a new descending correction.
![](https://www.roboforex.ru/files/forecasts/march2016/29/Image20160329104037003.png)
At the H1 chart, the predicted target of the current correction is at the retracement of 61.8%, from which the pair has already rebounded. Consequently, the pair may resume moving upwards and stays above last Fridays’ highs. Otherwise, if the price breaks the retracement of 61.8% and surrounding levels, it may start a deeper descending correction.
RoboForex Analytical Department