Analysis for December 29th, 2016
The EUR/USD pair rebounded from the group of downside fibo-levels again, thus continuing the current ascending correction. The closest target for bulls is the retracement of 38.2%. If later the price rebounds from this level, the market may resume moving downwards.
EUR USD, “Euro vs US Dollar”
At the H1 chart, yesterday the pair rebounded from the correctional retracement of 78.6%. It’s highly likely that on Thursday the price may break the local high. Later, the market may test the group of upside fibo-levels.
The EUR/GBP pair continues growing slowly towards the correctional retracement of 38.2%. If later the price rebounds from this level to the downside, bears may start a new decline.
EUR GBP, “Euro vs Great Britain Pound”
At the H1 chart, the pair rebounded from the correctional retracement of 23.6% twice and broke local highs. It’s highly likely that in the nearest future the market may continue moving upwards.
RoboForex Analytical Department
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