Fibonacci Retracements Analysis 23.06.2015 (EUR/USD, EUR/GBP)


Analysis for June 23rd, 2015

EUR USD, “Euro vs US Dollar”

Euro hasn’t been strong enough to continue its ascending correction. Possibly, it is starting a new descending movement. The closest target is the group of fibo-levels at 1.0660. If the price breaks this area, the market will continue falling.

As we can see at the H1 chart, the pair continues falling steadily. The target is the group of fibo-levels at 1.0950. After reaching it, the market may start an intraday correction.

EUR GBP, “Euro vs Great Britain Pound”

After consolidating for a long time, Europound has resumed falling. The target for the next several days is still the group of fibo-levels at 0.7020.

At the H1 chart, the price has rebounded from retracement 61.8%. The lower targets are confirmed by local retracements. If later the price rebounds from this area, the market may start a new correction.

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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.