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Fibonacci Retracements Analysis 14.01.2016 (EUR/USD, EUR/GBP)

Analysis for January 14th, 2016

EUR USD, “Euro vs US Dollar”

At the H4 chart, after rebounding from the retracement of 61.8%, Eurodollar resumed its growth. In the nearest future, the market may continue growing towards the group of upper fibo-levels at 1.1110 – 1.1090.

As we can see at the H1 chart, the price has rebounded twice from the local retracement of 61.8%. It looks like after completing the intraday correction, the market may resume its ascending movement to reach the group of upper fibo-levels at 1.1015.

EUR GBP, “Euro vs Great Britain Pound”

The uptrend continues. It looks like the pair may start moving towards the group of retracements at 0.7640. If the pair rebounds from this area, it may start a new correction. However, if the price breaks this retracement and stays above it, the market may continue growing.

At the H1 chart, Europound has rebounded several times from the retracement of 38.2%. It’s highly likely that on Thursday the price may continue moving upwards. After reaching the group of fibo-levels at 0.7600, the market may start a local correction.

RoboForex Analytical Department

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