Fibonacci Retracements Analysis 29.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 29th, 2015

EUR USD, “Euro vs US Dollar”

The pair is still being corrected. Earlier, Eurodollar rebounded from the correctional retracement of 61.8% and resumed falling. The main target is still the group of lower fibo-levels at 1.0640.

At the H1 chart, Eurodollar may try to test the correctional retracement of 50% again. In the pair rebounds from it, the correction towards the retracement of 61.8% may continue. The short-term target for bears is the group of local retracements at 1.0940.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the group of lower fibo-levels, Europound continues growing. It’s highly likely that during the day the pair may reach new highs and soon after that – the closest upside target at 0.7500.

As we can see at the H1 chart, after rebounding from the local retracement of 50%, the pair has resumed moving upwards. In the nearest future, the market may reach its targets and then start another descending correction.

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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.