Fibonacci Retracements Analysis 30.08.2016 (EUR/USD, EUR/GBP)

30.08.2016

Analysis for August 30th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 78.6% several times, the EUR/USD pair continues moving downwards. The closest target is the group of fibo-levels at 1.1100. If later the price rebounds from this area, the market may start an ascending correction.



At the H1 chart, the closest targets are confirmed by local fibo-levels as well. However, if the price breaks this area easily, the market will continue falling much faster.




EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair has also resumed falling. It looks like the price is moving to test the correctional retracement of 78.6%. The market will successfully reach this level, if it is able to stay below the retracement of 50%.



At the H1 chart, earlier the pair rebounded from the retracement of 38.2% and started moving downwards. As a result, in the nearest future the market may break the local low and reach the group of downside fibo-levels.



 
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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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