Fibonacci Retracements Analysis 19.08.2015 (EUR/USD, EUR/GBP)


Analysis for August 19th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the group of upper fibo-levels, Eurodollar has resumed 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, the pair may rebound from the local correctional retracement of 38.2% during the current correction. 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”

Last week, Europound successfully reached the group of upper fibo-levels. I opened a sell order when earlier the price finished the local correction. After this correction, the market may continue falling. The target is still the group of lower fibo-levels.

If the pair rebounds from the local retracement of 38.2% during the day, it may resume moving downwards. The closest target is the local area at 0.6980 - 0.6975, formed by several retracements. During the next several hours, 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.