Fibonacci Retracements Analysis 28.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 28th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 61.8%, Eurodollar has resumed its decline. It’s highly likely that the price may break its local low. The closest target is still the group of lower fibo-levels at 1.0640.

At the H1 chart, Eurodollar rebounded from the correctional retracement of 50% and later was supported by the local retracement of 50% as well. The short-term target for bears is the group of local retracements at 1.0940. After reaching them, the pair may start an ascending correction.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the group of lower fibo-levels, Europound started growing. it’s highly likely that the pair has already completed the local correction and in the nearest future may start moving upwards to reach the closest upside target at 0.7500.

As we can see at the H1 chart, the price has rebounded from the local retracement of 50%. The upper target area is confirmed by local retracements. In the nearest future, the market may break the last week’s high.

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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.