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Fibonacci Retracements Analysis 26.01.2016 (EUR/USD, EUR/GBP)

Analysis for January 26th, 2016

EUR USD, “Euro vs US Dollar”

On Tuesday, Eurodollar may try to test the group of fibo-levels at 1.0800 – 1.0790 once again. If it rebounds from this area upwards, the market may grow a little bit inside the flat.

At the H1 chart, the predicted target of the current correction is confirmed by local retracements. It’s highly likely that on Tuesday the pair may test yesterday’s low one more time. If the price rebounds from it upwards, the target will be at the retracement of 78.6%.

EUR GBP, “Euro vs Great Britain Pound”

In case of Europound, the uptrend continues. The closest target is the area at 0.7840. It looks like in the future the pair will continue moving upwards.

At the H1 chart, the local correction has completed at the retracement of 38.2%. During the day, after completing the intraday correction, Europound may continue growing towards the upside levels.

RoboForex Analytical Department

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