Analysis for October 26th, 2016
EUR USD, “Euro vs US Dollar”
Just we expected, the EUR/USD pair rebounded from the group of fibo-levels and started a new correction. It’s highly likely that in the nearest future the market may resume falling. The closest target is the area at 1.0790.
![](https://www.roboforex.ru/files/forecasts/oct2016/26/Image20161026115422001.png)
As we can see at the H1 chart, the closest target of the ascending current correction is the retracement of 38.2%. If the price rebounds from this level soon, the market may resume its descending movement towards the downside targets.
![](https://www.roboforex.ru/files/forecasts/oct2016/26/Image20161026115422002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair finally rebounded from the correctional retracement of 38.2% and started a new ascending movement. It’s highly likely that in the nearest future the market may continue growing to reach the downside border of the closest group of fibo-levels.
![](https://www.roboforex.ru/files/forecasts/oct2016/26/Image20161026115422003.png)
As we can see at the H1 chart, the pair rebounded not only from the retracement of 38.2%, but from several local fibo-levels as well. Consequently, in the nearest future the market may grow to reach the group of fibo-levels at 0.9025.
RoboForex Analytical Department