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

January 18, 2017

Article By

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.

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter


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

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.