Fibonacci Retracements Analysis 01.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 1st, 2015

EUR USD, “Euro vs US Dollar”

Probably, Eurodollar is starting a new descending movement. After rebounding from several upper fibo-levels, the price is falling steadily. During the correction, when the pair rebounded from the retracement of 23.6%, I opened a sell order. It looks like later the market is going to reach several new lows.

As we can see at the H1 chart, the closest target is the group of fibo-levels at 1.1055. Later, the pair may start a new correction from this area. After this correction, I’m planning to sell more actively.

EUR GBP, “Euro vs Great Britain Pound”

Europound is testing the group of upper fibo-levels again. If the pair rebounds from this area, the market may continue moving towards the closest downside target at 0.7220.

At the H1 chart, the closest downside target is confirmed by local retracements. In the nearest future, the pair may resume moving downwards. Later, I’m planning to open a sell order.

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