Fibonacci Retracements Analysis 10.07.2015 (EUR/USD, EUR/GBP)


Analysis for July 10th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected. If the pair faces resistance from retracement 61.8%, the market may resume falling. Otherwise, if it breaks this level, the pair will start a deeper correction.

As we can see at the H1 chart, the predicted target area of the current correction is confirmed by local retracements. If the price rebounds from this area and stays below retracement 50%, I’m planning to open another sell order.

EUR GBP, “Euro vs Great Britain Pound”

Possibly, Europound has finished its ascending correction. The target for the next several days is the group of fibo-levels at 0.6870. Earlier, I opened a sell order when the pair completed the local correction.

As we can see at the H1 chart, the price has rebounded from the group of local fibo-levels. Possibly, the pair may resume falling quite soon. The intermediate target is the group of fibo-levels at 0.7020.

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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.