Fibonacci Retracements Analysis 23.11.2015 (EUR/USD, EUR/GBP)


Analysis for November 23rd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has rebounded from the retracement of 61.8% and reached a new low. The main target is still the group of lower fibo-levels at 1.0450. It’s highly likely that the market is going to continue falling this week.

As we can see at the H1 chart, the predicted target (the retracement of 61.8%) of the current correction has been confirmed by local retracements. On Monday, the pair may form a local correction, break the minimum, and then continue falling towards downside targets.

EUR GBP, “Euro vs Great Britain Pound”

Europound is about to complete the local correction as well. It looks like in the nearest future the market may resume its decline towards the group of lower fibo-levels at 0.6875.

As we can see at the H1 chart, the price may complete its short-term correction at the retracement of 38.2%. If the pair rebounds from it, the market may start falling towards the local group of fibo-levels at 0.6945.

RoboForex Analytical Department


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.