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 20.04.2016 (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 20.04.2016 (EUR/USD, EUR/GBP)

20.04.2016

Analysis for April 20th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday Eurodollar rebounded from the correctional retracement of 61.8% and may start a new local growth. The target is still at the group of the downside retracements. If the price breaks the retracement of 38.2% and stays below it, bears will return to the market.



At the H1 chart, the pair has rebounded from the retracement of 61.8% and several intraday levels as well. On Wednesday, the market may fall towards the retracement of 38.2%. If this level is broken, the pair will continue falling much deeper.




EUR GBP, “Euro vs Great Britain Pound”

Europound has reached the group of downside retracements specified earlier. In the nearest future, the market may start an ascending correction. The first target for bulls is at the retracement of 23.6%. If the pair breaks it, the market may start a deeper correction.



As we can see at the H1 chart, the pair has almost rebounded from the retracement of 78.6% twice. It’s highly likely that on Wednesday may move upwards a bit and break the maximum reached yesterday. The future scenario depends on how the pair will move at the retracement of 23.6%.



 
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.