Analysis for April 14th, 2016
EUR USD, “Euro vs US Dollar”
The correction becomes deeper. In the nearest future, the market may continue falling towards the correctional retracement of 78.6% and the surrounding levels at 1.1200 – 1.1190.
At the H1 chart, on Thursday the price may be corrected towards the local retracement of 38.2%. If the market rebounds from this level, the pair will continue falling towards its downside targets.
EUR GBP, “Euro vs Great Britain Pound”
In case of Europound, the correction becomes deeper as well. The target is also the correctional retracement of 78.6%. If the price rebounds from this level upwards, the pair may resume its ascending movement.
At the H1 chart, the correctional retracement of 38.2%, which is the predicted target of the local correction, is confirmed by intraday retracements. If the market rebounds from this level during the day, the price will continue falling towards its downside target at the retracement of 78.6%.
RoboForex Analytical Department
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