Analysis on Fibonacci on July 22, 2016
EUR USD "Euro to US Dollar"
After pullback from fibo-level 50% Euro to US Dollar is descending again. It is quite likely that in the beginning of the next week market will test lower targets near 1.0810. If we see pullback to the top from that price area that will be a signal for beginning of upward correction.
On 1 hour chart price formed pullback from local correction mark 78.6%. So new coil of the pair descending to lower targets is possible that strengthened by intra-daily fibo-levels.EUR GBP "Euro to British Pound"
Cross pair continues local ascending correction. It is not excluded that price may find resistance on mark 50%. If there is pullback from that mark, then resuming of the pair descending towards local lows is highly possible.
On 1 hour chart, target mark of 50% is confirmed by local fibo-levels.. It is quite likely that pullback from that area will be during the day that will indicate on possibility of beginning of cross descending.