Analysis for December 19th, 2016
The EUR/USD pair is still moving downwards. After finishing the local correction, the price may continue falling. The closest target for bears is the group of fibo-levels at 1.0200.
EUR USD, “Euro vs US Dollar”
As we can see at the H1 chart, the pair is attempting to rebound from the correctional retracement of 38.2%. Consequently, in the nearest future the market may resume moving downwards to reach its downside targets and break the local low.
After rebounding from the group of downside fibo-levels, the EUR/GBP pair is attempting to start a new ascending correction. As a result, in the nearest future the market may reach the retracement of 38.2% at 0.8610, which is confirmed by intraday fibo-levels.
EUR GBP, “Euro vs Great Britain Pound”
At the H1 chart, the pair may start a short-term decline towards the retracement of 78.6%. If later the price rebounds from this level, the market may resume growing to reach the closest target area.
RoboForex Analytical Department
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