Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / Fibonacci Retracements Analysis 29.01.2016 (EUR/USD, EUR/GBP)
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back

Fibonacci Retracements Analysis 29.01.2016 (EUR/USD, EUR/GBP)


Analysis for January 29th, 2016

EUR USD, “Euro vs US Dollar”

The market is still moving sideways. Yesterday Eurodollar resumed its decline after being  just several pips shy to reach the group of upper fibo-levels. Consequently, in the nearest future the market may continue falling inside flat towards its downside targets.

At the H1 chart, the downside targets are confirmed by local retracements. It’s highly likely that after completing the local correction, the pair may resume falling towards the minimum reached earlier.

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.

As we can see at the H1 chart, the market has rebounded from the retracement of 78.6%, which means that the local correction may complete. Considering this, in the future the pair may move to reach the group of upper fibo-levels at 0.7840.

RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.