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 18.05.2016 (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 18.05.2016 (EUR/USD, EUR/GBP)


Analysis for May 18th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar continues moving towards its downside targets. Possibly, during the day the price may reach the group of fibo-levels at 1.1210. If the pair rebounds from this area, it may start a new correction.

At the H1 chart, the downside targets are confirmed by intraday fibo-levels as well. Yesterday, the price rebounded from the correctional retracement of 38.2%, which means that it may resume falling. It’s highly likely that during the day the market may reach a new low.

EUR GBP, “Euro vs Great Britain Pound”

Europound hasn’t been able to stay below the correctional retracement of 61.8% after all, and it may result in a new ascending correction. The current growth may speed up after the pair may breaks the local minimum.

As we can see at the H1 chart, Europound hasn’t managed to stay under the group of fibo-levels. This is why, the pair is quite unlikely to continue falling. Consequently, the market may continue moving upwards on Wednesday.

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.