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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci Retracements Analysis 29.09.2015 (EUR/USD, EUR/GBP)
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Fibonacci Retracements Analysis 29.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 29th, 2015

EUR USD, “Euro vs US Dollar”

The pair is still being corrected. Earlier, Eurodollar rebounded from the correctional retracement of 61.8% and resumed falling. The main target is still the group of lower fibo-levels at 1.0640.

At the H1 chart, Eurodollar may try to test the correctional retracement of 50% again. In the pair rebounds from it, the correction towards the retracement of 61.8% may continue. The short-term target for bears is the group of local retracements at 1.0940.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the group of lower fibo-levels, Europound continues growing. It’s highly likely that during the day the pair may reach new highs and soon after that – the closest upside target at 0.7500.

As we can see at the H1 chart, after rebounding from the local retracement of 50%, the pair has resumed moving upwards. In the nearest future, the market may reach its targets and then start another descending correction.

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