Fibonacci Retracements Analysis 15.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 15th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside the flat, which may continue on Friday. In the future, the market may resume falling towards the group of downside retracements at 1.1200 – 1.1190.

At the H1 chart, the price may reach the group of local fibo-levels near the correctional retracement of 23.6% at 1.1290. If the market rebounds from this area, the pair will continue falling towards its downside targets.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the correctional retracement of 61.8%, Europound has started a correction. During the day, the pair may reach a new local high and the local retracement of 38.2%. If the price rebounds from this level downwards, the market may start a new decline towards its downside targets at 0.7890.

At the H1 chart, the target area near the correctional retracement of 38.2% is confirmed by intraday retracements. On Friday, the market may grow a little bit and reach the retracement of 38.2%. If the pair rebounds from this level, the price will start a new descending movement.

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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.