Fibonacci Retracements Analysis 30.09.2016 (EUR/USD, EUR/GBP)

30.09.2016

Analysis for September 30th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair reached its target level and stopped falling. Consequently, in the nearest future the local correction may take place, which may be followed by a new descending movement towards the group of downside fibo-levels at 1.1170.



At the H1 chart, the closest target of the current correction is the retracement of 38.2%. If the market rebounds from this area, it may continue falling and break the previous low.




EUR GBP, “Euro vs Great Britain Pound”

In case of the EUR/GBP pair, the targets remain the same. Earlier, the price rebounded from the retracement of 78.6%. After finishing the current correction, the market may resume growing and reach a new local high.



At the H1 chart, the pair is still being corrected. The closest target is the retracement of 78.6%. If later the price rebounds from this area, it may start a new ascending movement towards its upside targets.



 
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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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