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Fibonacci Retracements Analysis 28.01.2016 (EUR/USD, EUR/GBP)

Analysis for January 28th, 2016

EUR USD, “Euro vs US Dollar”

Earlier this week, Eurodollar rebounded from the group of fibo-levels at 1.0800 – 1.0790 twice. It’s highly likely that in the nearest future the market may continue growing towards the local high and several local targets.

The predicted upside targets of the current growth are confirmed by local retracements. It’s highly likely that on Thursday the pair may move towards the area at 1.1010. If the price breaks this level, it may continue growing much higher.

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.

Probably, the local correction at the H1 chart has completed at the retracement of 38.2% as the price has rebounded from this level twice. If the pair rebounds from the retracement of 61.8% during the day, Europound may resume growing.

RoboForex Analytical Department

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