Fibonacci Retracements Analysis 11.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 11th, 2015

EUR USD, “Euro vs US Dollar”

The Eurodollar continues to correct. If in the future the price forms a retreat from the level of 38.2%, the beginning of the decline towards the lower accumulation of Fibo levels (1.0630) will become possible. The reverse is also correct, a break through the 38.2% line will result in a longer upward correction.

On the hourly chart the area of the alleged end of the current upward movement is confirmed by local Fibo levels. At the moment I have no active transactions, in the event of movement in the market I plan to enter the market at the next correction.

EUR GBP, “Euro vs Great Britain Pound”

The euro pound, after a series of retreats from the upper cluster of Fibo levels, continues to consolidate. In the short term a downward movement to the nearest target is possible, located in the area of 0.7220. In case of breaking through this level a deeper decline will become possible.

On the hourly chart the price has formed a retreat from the correctional level of 50%. The next goal is confirmed by lower local Fibo levels. In the short term a further decrease of the cross may occur.

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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.