Fibonacci Retracements Analysis 27.09.2016 (EUR/USD, EUR/GBP)


Analysis for September 27th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair was just several pips shy to reach the correctional retracement of 78.6%. Considering that the price is already moving below the retracement of 61.8%, then in the nearest future it may resume falling towards the target area at 1.1075. At the same time, the retracement of 38.2% at 1.1200 may provide significant support.

At the H1 chart, the local target is the group of fibo-levels at 1.1200. If later the pair rebounds from this level, the market may start an intraday ascending correction.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is still moving upwards and may soon reach several new highs. The main target for the next several days is the group of fibo-levels at 0.9090 – 0.9030.

At the H1 chart, the pair rebounded from the correctional retracement of 38.2%. Consequently, later the market may test the group of local fibo-levels at 0.8870.

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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.