Fibonacci Retracements Analysis 11.08.2015 (EUR/USD, EUR/GBP)


Analysis for August 11th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar may yet continue moving downwards. It’s highly likely that in the nearest future the local growth towards the correctional retracement of 78.6% may continue. At the same time, the target is still the group of lower fibo-levels.

As we can see at the H1 chart, the current correction may finish near the group of fibo-levels at 1.1050. If later the price rebounds from this area, it may resume moving downwards.

EUR GBP, “Euro vs Great Britain Pound”

The mains scenario still implies that the Europound may start a deeper ascending correction. Possibly, during the next several days, the market may test the group of upper fibo-levels. If the price rebounds from this area, it may resume falling.

As we can see at the H1 chart, yesterday the price rebounded from the correctional retracement of 61.8%. In the future, the pair continue growing towards the upper target area.

RoboForex Analytical Department


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.