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Fibonacci Retracements Analysis 30.12.2016 (EUR/USD, EUR/GBP)

Article By RoboForex.com

Analysis for December 30th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair reached the correctional retracement of 50% and then rebounded from it quickly. As a result, in the nearest future the market may resume moving downwards to reach the area at 1.0380 – 1.0335, which was tested earlier.

At the H1 chart, the pair reached several local fibo-levels and then rebounded from them very fast. On Friday, the price may test the group of fibo-levels near the correctional retracement of 38.2% one more time. If the market rebounds from them, it may resume its decline.

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair reached the correctional retracement of 38.2% and rebounded from it. If the price is able to stay below this level, the market may resume its decline quite soon.

At the H1 chart, the pair may test the retracement of 38.2% once again. If the price rebounds from this level, market may start a short-term decline towards the correctional retracement of 50% at 0.8500.

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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