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.
RoboForex Analytical Department