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    EUR/TRY: Fibonacci analysis on 26.01.2016

    A fall can continue.

    On the 4-hour chart, the pair is testing the level of 3.2710 (38.2% correction) and the 61.8% fan line that acts as an additional support. A price consolidation below this level could lead to a further fall towards 3.2515 (50% correction), and possibly 3.2318 (61.8% correction). Otherwise, the price can start growing along the 61.8% fan line towards 3.2955 (23.6% correction). 

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