Analysis for December 29th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating near the group of upper fibo-levels. If the price rebounds from them again, the downtrend may resume. The target is the area at 1.0730.
![](https://www.roboforex.ru/files/forecasts/december2015/29/Image20151229133005001.png)
At the H1 chart, the predicted target of the current correction is at the retracement of 61.8%. If the price isn’t able to stay above it, the market may resume its decline towards the downside target area at 1.0730.
![](https://www.roboforex.ru/files/forecasts/december2015/29/Image20151229133005002.png)
EUR GBP, “Euro vs Great Britain Pound”
Europound is testing the group of upper fibo-levels at 0.7385 again. If the market rebounds from them, the current descending correction may continue. The closest target for bears is the area at 0.7290.
![](https://www.roboforex.ru/files/forecasts/december2015/29/Image20151229133005003.png)
At the H1 chart, the closest downside target is confirmed by local retracements. On Tuesday, the price may rebound from the upside target area, after which I’m planning to open a short-term sell order.
RoboForex Analytical Department