Analysis for September 29th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating. Earlier, the price failed to fix above the correctional retracement of 61.8% and may resume moving downwards. The closest bearish target is the group of fibo-levels at 1.1170.
![](https://www.roboforex.ru/files/forecasts/sep2016/29/Image20160929124921001.png)
At the H1 chart, the pair rebounded from the correctional retracement of 50% twice. As a result, on Thursday the price may move towards its local low. If later the market breaks its target area at 1.1170, it may continue falling much faster.
![](https://www.roboforex.ru/files/forecasts/sep2016/29/Image20160929124921002.png)
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair is still moving upwards. Consequently, in the nearest future the market may continue growing towards the group of fibo-levels at 0.9090 – 0.9030.
![](https://www.roboforex.ru/files/forecasts/sep2016/29/Image20160929124921003.png)
At the H1 chart, the pair rebounded from the correctional retracement of 78.6% twice. As a result, in the nearest future the market may move upwards to reach the local target at 0.8870. If later the price rebounds from this area, it may start a new correction.
RoboForex Analytical Department