Fibonacci Retracements Analysis 21.08.2015 (EUR/USD, EUR/GBP)
21.08.2015
Analysis for August 21st, 2015
EUR USD, “Euro vs US Dollar”
The pair has started a fast growth, possibly continuing the correction on the daily chart. The closest target for bulls is the group of upper fibo-levels at 1.16. I’m planning to open a buy order during the local correction.
As we can see at the H1 chart, the group of local retracements at 1.1400 – 1.1420 may provide resistance form the current ascending movement. If the pair rebounds from this area, the market may start a descending correction.
EUR GBP, “Euro vs Great Britain Pound”
After rebounding from the correctional retracement of 61.8%, Europound hast started a fast ascending rally and renewed the last week’s high. The closest target for bulls is the group of upper fibo-levels at 0.7275.
If the pair rebounds from the group of local retracements at 0.7210 at the H1 chart, the market may start a descending correction. After the correction, I’m planning to start buying as the price continues moving upwards.
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