Fibonacci Retracements Analysis 26.08.2016 (EUR/USD, EUR/GBP)
26.08.2016
Analysis for August 26th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still trading under the correctional retracement of 78.6%. As a result, in the nearest future the market may fall towards the retracement of 61.8%. If later the price breaks this level, the market may continue falling much deeper.
At the H1 chart, yesterday the pair rebounded from the correctional retracement of 50%, which means that it may move downwards for a little while. The closest target is the group of fibo-levels at 1.1230.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the retracement of 61.8%, the EUR/GBP pair is consolidating. Consequently, in the nearest future the market may fall and reach the retracement of 78.6%. If the price rebounds from this level, it may start a new ascending correction.
At the H1 chart, on Friday the pair may grow a little towards the correctional retracement of 50%. If later the price rebounds from this level, the market will start a new descending movement towards its downside targets.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.