Fibonacci Retracements Analysis 18.08.2015 (EUR/USD, EUR/GBP)


Analysis for August 18th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the group of upper fibo-levels successfully, Eurodollar is resuming its decline. Probably, later the price may start moving towards the lower targets at 1.0670 – 1.0650. I’m holding a sell order so far 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%. Yesterday the price was supported by the intraday retracement of 50%. 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. I opened a sell order when the price finished the local correction, after this correction, the market may continue falling. The target is still the group of lower fibo-levels.

As we can see at the H1 chart, the pair has rebounded from the local correctional retracement of 50%. The closest target is the area at 0.7020 - 0.7010, formed by several retracements. During Tuesday, the pair may reach break the minimum.

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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.