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Fibonacci Retracements Analysis 27.09.2016 (EUR/USD, EUR/GBP)

Analysis for September 27th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair was just several pips shy to reach the correctional retracement of 78.6%. Considering that the price is already moving below the retracement of 61.8%, then in the nearest future it may resume falling towards the target area at 1.1075. At the same time, the retracement of 38.2% at 1.1200 may provide significant support.

At the H1 chart, the local target is the group of fibo-levels at 1.1200. If later the pair rebounds from this level, the market may start an intraday ascending correction.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is still moving upwards and may soon reach several new highs. The main target for the next several days is the group of fibo-levels at 0.9090 – 0.9030.

At the H1 chart, the pair rebounded from the correctional retracement of 38.2%. Consequently, later the market may test the group of local fibo-levels at 0.8870.

RoboForex Analytical Department

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