Analysis for December 13th, 2016
The EUR/USD pair is still being corrected. However, in the nearest future the market may reverse and resume falling towards the group of downside fibo-levels at 1.0360.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the target of current ascending correction is the retracement of 50%. If later the pair rebounds from this level, it may resume falling. However, if this retracement is broken, the market may continue moving upwards.
In case of the EUR/GBP pair, the local descending correction continues. However, in the nearest future the market may resume moving upwards to reach the group of fibo-levels near the retracement of 38.2%.
EUR GBP, “Euro vs Great Britain Pound”
As we can see at the H1 chart, the pair broke the correctional retracement of 78.6%. If later the price fixes above this level, the market may start a short-term growth towards the local high.
RoboForex Analytical Department
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