Analysis on Fibonacci on July 20, 2016
EUR USD "Euro to US Dollar"
Pullback from correction mark 50% resulted in new coil of Euro-US Dollar descending. Apparently, after completion of local correction, market may continue to descend towards the nearest crowd of fibo-level (1.0810).
Recently, pullback from correction mark 38.2% was on 1 hour chart. Currently market is corrected, but soon resuming of descending towards lower targets, that are confirmed by local fibo-levels, is possible.EUR GBP "Euro to British Pound"
Cross pair, apparently, soon will continue descending correction because price could not fix above mark 23.6%. Possible bearish target is fibo-level 50% (0.8110).
Double pullback from local correction mark 78.6% was on 1 hour chart that pointed on possibillity of resuming of quotation descending. So, soon breakage of last week low is possible.