Analysis for November 30th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still being corrected. The closest target is the retracement of 23.6%. If the market rebounds from this level, it may start a short-term decline. However, in case this level is broken, the correction may continue much higher.
![](https://www.roboforex.ru/files/forecasts/nov2016/30/Image20161130161500001.png)
As we can see at the H1 chart, the closest target is the group of fibo-levels at 1.0700. Possibly, the pair may rebound from this area and start a short-term decline.
![](https://www.roboforex.ru/files/forecasts/nov2016/30/Image20161130161500002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair couldn’t fix above the retracement of 38.2% and may continue moving downwards. The closest target for bears is the group of fibo-levels at 0.8415.
![](https://www.roboforex.ru/files/forecasts/nov2016/30/Image20161130161500003.png)
As we can see at the H1 chart, the downside targets are confirmed by local fibo-levels. It’s highly likely that in the nearest future the market may continue falling and reach a new low. If later the price rebounds from the downside target area, the pair may start a new correction.
RoboForex Analytical Department