Fibonacci Retracements Analysis 22.07.2015 (EUR/USD, EUR/GBP)


Analysis for July 22nd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has started a correction. Possibly, in the nearest future the price may reach retracement 50%. If the pair rebounds from this level and then stays below retracement 38.2%, I’m planning to open another sell order with the target at the group of lower fibo-levels.

As we can see at the H1 chart, the target area of the current correction is confirmed by local retracements. Probably, the market may break yesterday’s high during the next several hours.

EUR GBP, “Euro vs Great Britain Pound”

Europound resumes falling. Earlier, the pair rebounded from a correctional retracement 50%. The target for the nearest future is the group of fibo-levels at 0.6870. I opened a sell order when the pair completed the local correction.

At the H1 chart, the price is being corrected. Yesterday, the price rebounded from retracement 38.2% and resumed falling. The target is still the group of lower fibo-levels.

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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.