Fibonacci Retracements Analysis 27.06.2016 (EUR/USD, EUR/GBP)

27.06.2016

Analysis for June 27th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the retracement of 61.8% successfully, Eurodollar started plummeting. The correction that followed was rather short, but still it reached the retracement of 50% and rebounded from it twice. Consequently, in the nearest future the market may continue falling towards the group of fibo-levels at 1.0810.



As we can see at the H1 chart, the price rebounded from the correctional retracement of 50%, which was confirmed by intraday fibo-levels. Possibly, on Monday the market may reach a new low.




EUR GBP, “Euro vs Great Britain Pound”

Europound continues growing steadily. Earlier, the price rebounded from the correctional retracement of 78.6%. The correction that followed later reached the retracement of 38.2% and broke the maximum. The closest target for bulls is the area at 0.8480.



At the H1 chart, the upside targets are confirmed by intraday fibo-levels. During the day, the price may form a short-term correction, but later it is expected to continue growing towards the group of upside retracements.



 
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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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