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 Technical analysis and forecasts / Fibonacci Retracements Analysis 07.01.2016 (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 07.01.2016 (EUR/USD, EUR/GBP)


Analysis for January 7th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has started a fast ascending correction. If the price faces resistance from Moving Average and local retracement, the market may resume its decline towards the next target in the area at 1.0640 – 1.0620.

As we can see at the H1 chart, the pair is trying to rebound from the retracement of 61.8% and several intraday levels. Consequently, in the nearest future the price may resume its descending movement. However, if the market breaks the above-mentioned retracement, it may continue moving upwards.

EUR GBP, “Euro vs Great Britain Pound”

Europound continues moving upwards. It looks like in the nearest future the market will continue moving to reach the closest group of fibo-levels at 0.7530.

At the H1 chart, the current growth may face resistance from the group of local retracements at 0.7480 – 0.7495. If the market rebounds from this area, the pair may start a short-term descending correction.

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.