Fibonacci Retracements Analysis for EUR/USD, and EUR/GBP on 16.09.2016



Fibonacci Retracements Analysis September 16, 2016

EUR/USD “Euro vs US Dollar”


АFibonacci Retracements Analysis for EUR/USD on 16.09.2016

Euro is still traded in the flat shape boundaries. Earlier market was unable to settle above correction point at 78.6% and there was bouncing from the bunch of local fibo-levels (1.1315). Consequently, in the short term perspective, we should expect price descending towards the area near 1.1180.




As we can see from 1 hour chart, yesterday price has bounced from correction point at 61.8%. So that we can expect this pair to move towards lower goals and break those minimums. Afterward, if there was a bouncing from anticipated price area, then we would expect current consolidation to be going on.

EUR/GBP “Euro vs British Pound”


Pair cross is still stuck in the local flat shape. Earlier, when the pair has been done with lower targets, there was a rapid bullish rally. In the short term we might expect a further upwards movement towards the bunch of upper fibo-levels near the price area at 0.8570.


On 1 hour chart we can see the nearest bearish goal that is the correction mark at 38,2%, which has been strengthened by the bunch of daily fibo-levels. Consequently, if there was an upwards bouncing from that price area, then we would consider further ascending as quite possible.


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