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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci Retracements Analysis 27.01.2016 (EUR/USD, EUR/GBP)
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Fibonacci Retracements Analysis 27.01.2016 (EUR/USD, EUR/GBP)


Analysis for January 27th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the group of fibo-levels at 1.0800 – 1.0790 several times, Eurodollar is again attempting to resume its ascending movement. It’s highly likely that in the nearest future the market may grow towards the local high.

The predicted target of the current correction is confirmed by local retracements. It’s highly likely that on Wednesday the pair may move towards the area at 1.0940. If the price breaks this level, it may continue growing much higher.

EUR GBP, “Euro vs Great Britain Pound”

In case of Europound, the uptrend continues. The closest target is the area at 0.7840. It looks like in the future the pair will continue moving upwards.

At the H1 chart, the local correction has completed at the retracement of 38.2%. However, during the day, Europound may test this area once again. If it rebounds upwards, the market may resume growing.

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