Fibonacci Retracements Analysis 21.09.2016 (EUR/USD, EUR/GBP)

21.09.2016

Analysis for September 21st, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 61.8%, the EUR/USD pair continues falling. The closest target is still the group of retracements at 1.1075. If later the price rebounds from this area, it will start a new ascending correction.



As we can see at the H1 chart, the pair bounced from the retracement of 38.2%. At the moment, the local correction is taking place, the target of which is the intraday retracement of 50% at 1.1167. If the market rebounds from this level, it may resume moving downwards.




EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is being corrected. The main target is still the group of upside fibo-levels at 0.8645. If later the price rebounds from this area, it will start a new descending correction.



At the H1 chart, the pair bounced from the local correctional retracement of 50%. Consequently, during the day the price may grow to reach its upside targets and break yesterday’s high.



 
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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.

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