Fibonacci Retracements Analysis 17.08.2015 (EUR/USD, EUR/GBP)


Analysis for August 17th, 2015

EUR USD, “Euro vs US Dollar”

Last week, Eurodollar successfully rebounded from the group of upper fibo-levels. Possibly, later the price may start moving towards the lower targets at 1.0670 – 1.0650. I’m holding a sell order and in the future planning to increase my position.

As we can see at the H1 chart, last Friday the pair rebounded from the correctional retracement of 78.6%. It’s highly likely that the price may reach a new low on Monday. The closest target is the group of fibo-levels at 1.0960 – 1.0950.

EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached the group of upper fibo-levels, rebounded from them, and may start a new descending movement. The target is still the group of lower fibo-levels. During the correction, I’m planning to open a sell order.

As we can see at the H1 chart, the pair has rebounded from the correctional retracement of 78.6% and tested the group of upper fibo-levels once again. The closest target is the area at 0.7020 - 0.7010, formed by several retracements.

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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.