Fibonacci Retracements Analysis 26.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 26th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected. Earlier, the price rebounded from the retracement of 61.8% and then broke its local low. In the nearest future, the market may resume its decline towards the group of retracements at 1.1135 – 1.1160.

At the H1 chart, the target of the current local correction is at the retracement of 38.2%. If the price rebounds from it during the day, the market may start a new descending movement. The closest target is the group of retracements at 1.1190 – 1.1200.

EUR GBP, “Euro vs Great Britain Pound”

After breaking yesterday’s low, the pair continues moving downwards. In the nearest future, the market may continue falling towards the closest group of retracements at 0.7730 – 0.7715.

At the H1 chart, yesterday the price rebounded from the local retracement of 38.2%. On Tuesday, after finishing the local correction, Europound may continue its decline towards the downside targets, which are confirmed by intraday fibo-levels.

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