Analysis for September 28th, 2016
EUR USD, “Euro vs US Dollar”
After failing to fix above the correctional retracement of 61.8%, the EUR/USD pair is trying to resume moving downwards. The closest target is the group of fibo-levels at 1.1170. If the price breaks this area, the market will continue falling towards 1.1075.
At the H1 chart, the closest target of the correction is the retracement of 38.2% at 1.1225. If later the pair rebounds from this level, the market may resume its decline towards the closest target area at 1.1170.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still moving upwards. Earlier, the price rebounded from the correctional retracement of 78.6% and started the current growth. The closest target is the group of fibo-levels at 0.9090 – 0.9030.
At the H1 chart, the pair is testing the correctional retracement of 61.8%. If the price rebounds from this level, it may resume moving upwards. The intraday target is the group of fibo-levels at 0.8870.
RoboForex Analytical Department