Analysis for September 26th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the correctional retracement of 61.8%, the EUR/USD pair started consolidating. It’s highly likely that in the nearest future the market may fall a little bit and break the previous low. However, later the market may resume its ascending correction with the target at the retracement of 78.6%.
At the H1 chart, the pair rebounded from the local correctional retracement of 78.6%. As a result, in the nearest future the market may fall towards the group of fibo-levels at 1.1170.
EUR GBP, “Euro vs Great Britain Pound”
The EUR/GBP pair got very close to the local high and may continue moving upwards if the price break it. The next bullish target is the group of fibo-levels at 0.9090 – 0.9030.
At the H1 chart, after rebounding from the retracement of 38.2%, the pair resumed moving upwards. The short-term target is 0.8870. If later the market rebounds from this area, it may start a new descending correction.
RoboForex Analytical Department