Fibonacci Retracements Analysis 19.02.2016 (EUR/USD, EUR/GBP)


Analysis for February 19th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, Eurodollar reached its local target near the group of fibo-levels and then started a new correction. Probably, this pullback won’t take much time. Later, the market may continue falling towards the group of retracements at 1.1025.

At the H1 chart, the first target of the correction is the retracement of 23.6%. If the price rebounds from it, the pair may resume its decline and break the low reached earlier.

EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached its upside targets and started falling. After completing the local correction, the price may continue falling towards the group of local retracements at 0.7690.

At the H1 chart, the closest targets of the current descending movement are confirmed by local retracements. If the pair rebounds from the correctional retracement of 61.8%, it may start a new descending movement.

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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.