Fibonacci analysis for 17 July 2015
EUR USD "Eurodollar"
The euro continues to decline. A few days ago the market developed a series of retreats from the correctional mark of 50%. The lower cluster of fibo-levels in the region of 1.0640 is still relevant.
On the hourly chart, after the jump away from the correctional level of 50%, the downward movement was resumed. The intermediate target still stands at the cluster of levels near 1.0790. Probably, during the day we will see the break through the local minimum.EUR GBP "Euro to British pound"
The Cross steadily progressed down. Earlier, the price formed a retreat from the correctional level of 50%. The aim for the near future is at the cluster of fibo-levels at the 0.6870 mark. Earlier, at the end of the local correction, I entered into a deal to sell more.
On the hourly chart the price is steadily moving towards the main targets. Subsequently, I plan to increase the volume of short positions. In the event of a retreat from the lower levels, a beginning of an upward correction is possible.RoboForex Analytical Department