Fibonacci Retracements Analysis 28.11.2016 (EUR/USD, EUR/GBP)


Analysis for November 28th, 2016

EUR USD, “Euro vs US Dollar”

It’s highly likely that the EUR/USD pair started an ascending correction. The closest target is the correctional retracement of 23.6%. If later the price breaks this level, the market may start a more significant ascending correction.

At the H1 chart, the local correction is taking place with the target at the retracement of 78.6%. If later the price rebounds from this level, the market may reach its closest target at 1.0700.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is being corrected. The closest target for is the group of fibo-levels at 0.8415. If later the price rebounds from this area, the market may start a new ascending correction.

As we can see at the H1 chart, the pair rebounded from the retracement of 78.6%. If the price fixes below the retracement of 61.8%, the market may resume falling and break the local low.

RoboForex Analytical Department


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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