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 07.07.2016 (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 07.07.2016 (EUR/USD, EUR/GBP)


Analysis for July 7th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 50%, Eurodollar resumed moving downwards. The closest target is the group of downside retracements at 1.0810. If the price rebounds from this area, the market may start an ascending correction.

As we can see at the H1 chart, the price has rebounded from the local correctional retracement of 50%. It’s highly likely that in the nearest future the market may break the minimum and move towards the downside targets, which are conformed by local fibo-levels.

EUR GBP, “Euro vs Great Britain Pound”

Europound is still consolidating near the group of retracements reached earlier. The pair hasn’t rebounded downwards sharply, so the price may resume growing towards the next target at 0.8790. As a result, in the nearest future the market may break the previous high.

At the H1 chart, the price was supported by the correctional retracement of 50%. Consequently, in the nearest future the market may resume growing and reach the upside targets. If later the pair rebounds from them, it may start a 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.