Fibonacci Retracements Analysis 28.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 28th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected. It’s highly likely that on Thursday the price may test the local retracement of 61.8%. If the pair rebounds from it, the market may resume its descending movement.

As we can see at the H1 chart, the predicted target of the correction is confirmed by local retracements. During the day, the price may reach a new high. Later, after rebounding from the upside levels, the market may resume falling.

EUR GBP, “Euro vs Great Britain Pound”

Europound was just several pips shy to reach the group of downside fibo-levels. Probably, right now the correction is taking place. In the nearest future, the market may move towards the retracement of 38.2%, which is confirmed by several local fibo-levels.

As we can see at the H1 chart, the first bullish target at the retracement of 38.2 is confirmed by intraday fibo-levels. It looks like on Thursday the price may continue moving upwards. The market may reach its upside targets until the end of this trading week.

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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.