Fibonacci analysis for July 16, 2015
EUR USD "Eurodollar"
The euro continues to decline. A few days ago the market formed a series of jumps from the correctional mark of 50%. The lower cluster of fibo-levels in the region of 1.0640 still remains relevant.
On the hourly chart the price has formed a retreat from the correctional level of 50%. Intermediate target still stands at the cluster of levels near 1.0790. Probably, during the day we will see some new lows.EUR GBP "Euro to British pound"
The Cross steadily progresses down. Earlier, the price formed a retreat from the correctional level of 50%. The aim for the near future acts as the cluster of fibo-levels in the mark of 0.6870. Earlier, at the end of the local correction, I entered into a deal to sell more.
On the hourly graph the price is confidently moving to new targets. Later on I plan to build up my short position. In the case of the retreat from the lower levels a beginning of a coming correction is possible.RoboForex Analytical Department