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Fibonacci Retracements Analysis 18.01.2017 (EUR/USD, EUR/GBP)

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still being corrected. The price reached the retracement of 38.2% and may start a short-term growth. However, later the market may resume growing to reach the retracement of 50% at 1.0820.

As we can see at the H1 chart, yesterday the pair reached a new low and rebounded from the group of upside fibo-levels. As a result, in the nearest future the market may fall towards the area at 1.0580 – 1.0560.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair rebounded from the channel’s downside border and several local fibo-levels, which means that the price may resume moving upwards. The closest target is the area at 0.8890 – 0.8860. After reaching it, the market may start a descending correction.

As we can see at the H1 chart, the pair rebounded from the group of local fibo-levels and is still moving inside the ascending channel. Probably, on Wednesday the market may resume growing towards the previous high.

 

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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