Fibonacci Retracements Analysis 22.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 22nd, 2015

EUR USD, “Euro vs US Dollar”

At the end of the last week, Eurodollar rebounded from the correctional retracement of 61.8%, which means that the pair may start another descending movement. The closest target is the group of lower fibo-levels at 1.0640.

As we can see at the H1 chart, the group of upper fibo-levels, where the current correction completed, was confirmed by several local retracements. I’m planning to open sell order during the next correction. The next target for bears is the group of lower fibo-levels at 1.0940.

EUR GBP, “Euro vs Great Britain Pound”

Europound has reach its first “bearish” target; if the price breaks this target, is may continue falling towards the next group of fibo-level at 0.7140. It’s highly likely that in the nearest future the market may continue moving downwards.

At the H1 chart, the lower targets are confirmed by local retracements. In the nearest future, the price may form a correction, which may be followed by a further decline of the price towards new lows.

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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.