Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci Retracements Analysis 29.04.2016 (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 29.04.2016 (EUR/USD, EUR/GBP)

29.04.2016

Analysis for April 29th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has reached the correctional retracement of 78.6% and right now is attempting to rebound from it. If bears succeed, the market may break the retracement of 61.8% and stay below it in order to resume falling.



As we can see at the H1 chart, the predicted target of the current ascending movement is confirmed by local retracements. We should note that if bulls break the group of upside fibo-levels easily, the market may grow much higher.




EUR GBP, “Euro vs Great Britain Pound”

Europound was just several pips shy to reach the group of downside fibo-levels. Probably, right now the correction is taking place. In the nearest future, the market may move towards the retracement of 38.2%, which is confirmed by several local fibo-levels.



As we can see at the H1 chart, the first bullish target at the retracement of 38.2% is confirmed by intraday fibo-levels. It looks like on Friday the price may continue moving upwards. The market may reach its upside targets until the end of this trading week.



 
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.