Fibonacci Retracements Analysis 26.09.2016 (EUR/USD, EUR/GBP)


Analysis for September 26th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 61.8%, the EUR/USD pair started consolidating. It’s highly likely that in the nearest future the market may fall a little bit and break the previous low. However, later the market may resume its ascending correction with the target at the retracement of 78.6%.

At the H1 chart, the pair rebounded from the local correctional retracement of 78.6%. As a result, in the nearest future the market may fall towards the group of fibo-levels at 1.1170.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair got very close to the local high and may continue moving upwards if the price break it. The next bullish target is the group of fibo-levels at 0.9090 – 0.9030.

At the H1 chart, after rebounding from the retracement of 38.2%, the pair resumed moving upwards. The short-term target is 0.8870. If later the market rebounds from this area, it may start a new descending correction.

RoboForex Analytical Department


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.