Analysis for October 27th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the group of fibo-levels and right now is still being corrected. It’s highly likely that in the nearest future the market may resume falling to reach the next target area at 1.0780.
![](https://www.roboforex.ru/files/forecasts/oct2016/27/Image20161027155031001.png)
As we can see at the H1 chart, yesterday the pair rebounded from the correctional retracement of 50%. In the nearest future, the market may test this level again. If the price rebounds from it, the pair may resume its descending movement.
![](https://www.roboforex.ru/files/forecasts/oct2016/27/Image20161027155031002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still moving near the correctional retracement of 38.2%. In case the price rebounds from this level, it may resume growing towards the retracement of 23.6%. If later this level is broken, the market will continue moving upwards.
![](https://www.roboforex.ru/files/forecasts/oct2016/27/Image20161027155031003.png)
As we can see at the H1 chart, the correctional retracement of 38.2% is confirmed by intraday fibo-levels as well. Considering that the price couldn’t break this target area, in the nearest future the market may start a short-term growth to reach the downside border of the closest group of fibo-levels.
RoboForex Analytical Department