Analysis on Fibonacci for EUR/USD and EUR/GBP on 18.07.2016
18.07.2016
Analysis on Fibonacci on July 18, 2016
EUR USD "Euro to US Dollar"
After repeated pullback from mark 50%, Euro-US Dollar tries to return to descending. The nearest target is still lower crowd of fibo-levels in area of 1.0810. If further there are pullback from it, beginning of upward correction will be possible.
On 1 hour chart there were pullback from local correction mark 38.2%. So, during Monday, resuming of Euro-US Dollar descending and breakage of Friday's minimum are possible.
EUR GBP "Euro to British Pound"
Cross pair did not fix above mark 23.6% that opens the way for continuation of downward correction. The nearest orienting point for its completion is fibo-level 50% (0.8110).
On 1 hour chart, price found resistance on inner-daily correction mark 78.6%. Lower crowd of fibo-levels is confirmed by local fibo-levels but allof them are above the main target on line 50%. And completion of the correction may not reach slightly 50% forming pullback from one of local fibo-levels.
EUR USD "Euro to US Dollar"
After repeated pullback from mark 50%, Euro-US Dollar tries to return to descending. The nearest target is still lower crowd of fibo-levels in area of 1.0810. If further there are pullback from it, beginning of upward correction will be possible.
On 1 hour chart there were pullback from local correction mark 38.2%. So, during Monday, resuming of Euro-US Dollar descending and breakage of Friday's minimum are possible.
EUR GBP "Euro to British Pound"
Cross pair did not fix above mark 23.6% that opens the way for continuation of downward correction. The nearest orienting point for its completion is fibo-level 50% (0.8110).
On 1 hour chart, price found resistance on inner-daily correction mark 78.6%. Lower crowd of fibo-levels is confirmed by local fibo-levels but allof them are above the main target on line 50%. And completion of the correction may not reach slightly 50% forming pullback from one of local fibo-levels.
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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.