Analysis for December 14th, 2016
After rebounding from the correctional retracement of 38.2%, the EUR/USD pair plummeted towards its local lows. In the nearest future, the market may complete the local correction and resume falling. The closest target is the group of fibo-levels at 1.0360.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair rebounded from the correctional retracement of 38.2% twice. Consequently, in the nearest future the market may test the group of downside fibo-levels. If they are broken, the price may continue moving downwards much faster.
It’s highly likely that the EUR/GBP pair is about to complete the local descending correction. As a result, in the nearest future the market may resume moving upwards. The closest target is the group of fibo-levels at 0.8600.
EUR GBP, “Euro vs Great Britain Pound”
On Wednesday, the pair may reach a new low. If later the price fixes above the correctional retracement of 78.6%, the market may continue growing to reach its closest target near the local high.
RoboForex Analytical Department
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