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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci Retracements Analysis 07.09.2016 (EUR/USD and EUR/GBP)
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Fibonacci Retracements Analysis 07.09.2016 (EUR/USD and EUR/GBP)

07.09.2016
Анализ по Фибоначчи на 7 сентября 2016

Fibonacci Retracements Analysis 07.09.2016

Анализ по Фибоначчи для EUR USD "Евро доллар" на 7 сентября 2016

The ascending correction on this chart has continued. The day before the price worked out a Fibonacci level 61.8%, and after that the current consolidation began. Therefore, if the bulls are able to break through this level in the near-term, the price can reach 78.6% Fibonacci level.

Анализ по Фибоначчи для EUR USD "Евро доллар" на 7 сентября 2016

As we can see on 1-H chart, in the near-term there can be yet another testing of a correction level 23.6%. If the price rebounds from this level, it can resume rising and break through the high.

EUR GBP "Euro vs. Great Britain Pound"

Анализ по Фибоначчи для EUR GBP "Евро к британскому фунту" на 7 сентября 2016

As we anticipated, the cross-pair has rebounded from a group of Fibonacci levels at about 0.8350. As such, we can see an ascending correction develop with the Fibonacci level 61.8% as the nearest target.

Анализ по Фибоначчи для EUR GBP "Евро к британскому фунту" на 7 сентября 2016

At the same time, as we can see on 1-H chart, the price can face a strong resistance at the correction level 38.2%. Correspondingly, it is the price rebounding from Fibonacci level 38.2% and holding above it that will be the signal to continue rising.

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