Analysis for December 27th, 2016
Over the last 24 hours, the EUR/USD pair has been moving in a narrow range. Earlier, the price rebounded from the group of downside fibo-levels and skyrocketed. As a result, in the nearest future the ascending correction may continue towards the retracement of 38.2%.
EUR USD, “Euro vs US Dollar”
At the H1 chart, the pair rebounded from the local correctional retracement of 50%. If the price is able to stay above this level, in the future the market will resume growing and break the local high.
The EUR/GBP pair is also consolidating. Earlier, the price rebounded from several local fibo-levels and started an ascending correction. The closest target for bulls is the retracement of 38.2%. If later the market may rebounds from this level, bears may try to start a new decline.
EUR GBP, “Euro vs Great Britain Pound”
At the H1 chart, the current short-term correction was supported by the retracement of 23.6%. As a result, on Tuesday the market may break the local high and continue growing towards its upside targets.
RoboForex Analytical Department
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