Fibonacci Retracements Analysis 29.12.2016 (EUR/USD, EUR/GBP)

29.12.2016

Analysis for December 29th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the group of downside fibo-levels again, thus continuing the current ascending correction. The closest target for bulls is the retracement of 38.2%. If later the price rebounds from this level, the market may resume moving downwards.



At the H1 chart, yesterday the pair rebounded from the correctional retracement of 78.6%. It’s highly likely that on Thursday the price may break the local high. Later, the market may test the group of upside fibo-levels.




EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair continues growing slowly towards the correctional retracement of 38.2%. If later the price rebounds from this level to the downside, bears may start a new decline. 



At the H1 chart, the pair rebounded from the correctional retracement of 23.6% twice and broke local highs. It’s highly likely that in the nearest future the market may continue moving upwards.



 
RoboForex Analytical Department

Attention!

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question