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 13.04.2016 (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 13.04.2016 (EUR/USD, EUR/GBP)

13.04.2016

Analysis for April 13th, 2016

EUR USD, “Euro vs US Dollar”

The sideways correction continues. However, during the day Eurodollar may move downwards to react the retracement of 50%. If the market rebounds from this area, the price may resume its ascending movement.



At the H1 chart, the target area close to the retracement of 50% is confirmed by intraday fibo-levels. If the market rebounds from it upwards and returns to the current levels, the price will start growing towards its upside targets at 1.1520 – 1.1510.




EUR GBP, “Euro vs Great Britain Pound”

In case of Europound, the descending movement continues. The closest target for bears is the group of fibo-levels at the retracement of 61.8%. If the price rebounds from this area, the pair may resume moving upwards to reach its upside targets.



At the H1 chart, the predicted targets of the current correction are confirmed by local retracements. It’s highly likely that on Wednesday the pair may test these targets. At the same time, if bears break the predicted targets easily and keep the price below them, the market will continue falling much deeper.



 
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.

Attention!

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.