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 19.10.2016 (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 19.10.2016 (EUR/USD, EUR/GBP)

19.10.2016

Analysis for October 19th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the group of local fibo-levels, the EUR/USD pair started a local ascending correction. It’s highly likely in the nearest future the market may test the retracement of 23.6%. If the price rebounds from this level, it may resume falling.



As we can see at the H1 chart, the correctional retracement of 23.6% is confirmed by intraday fibo-levels. Possibly, the pair may test this area during the day. If the market rebounds from this level, the first target for bears will be the group of retracements at 1.0850.




EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair reached the correctional retracement of 38.2% and may start a new growth. However, if the price breaks this level and fixes below it, the current descending correction may become deeper.



As we can see at the H1 chart, the pair rebounded not only from the retracement of 38.2%, but from several intraday fibo-levels as well. Consequently, in the nearest future the market may grow towards the closest group of retracements, which may later provide resistance.



 
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.