Article By RoboForex.com
Fibonacci Retracements Analysis on September 14, 2016
EUR/USD “Euro vs US Dollar”
There is a consolidation that is going on for Euro-US Dollar pair. The nearest goal is the bunch of fibo-levels near the mark 1.1180. If we saw a bouncing from that price area, then that would be a hint for further upwards correction.
On 1 hour chart we have already seen 3 times bouncing in a row from the mark 38.2%. So that in short term perspective we might see local minimum breakage and the nearest gathering of fibo-levels testing.
EUR/GBP “Euro vs British pound”
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As we have supposed earlier there is upwards movement again for this cross pair. It is quite possible that during the day we would see even further price ascending towards fibo-levels at the mark 0.8570.
On 1 hour chart, price demonstrated a bouncing from local correction point at 38.2%, which might be a good basis for a new uptrend iteration. However, if we saw a bouncing from upper levels, then it would be a sign for new downward correction.
Article By RoboForex.com
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