Fibonacci Retracements Analysis 24.09.2015 (EUR/USD, EUR/GBP)


Analysis for September 24th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the correctional retracement of 61.8%, Eurodollar has resumed its descending movement. The closest target is still the group of lower fibo-levels at 1.0640. It’s highly likely that quite soon the market may break the minimum formed in the beginning of the week.

At the H1 chart, Eurodollar is being corrected. Possibly, in the nearest future the price may rebound from the local retracement of 38.2%. The closest target for bears is the group of local retracements at 1.0940.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the group of lower fibo-levels, Europound has started growing, thus eliminating the possibility of a further decline. It looks like in the future the pair is going to continue growing towards the closest upside target at 0.7500.

As we can see at the H1 chart, the upper target area is confirmed by local retracements. It’s highly likely that during the day the pair may form a short-term correction, after which I’m planning to start buying.

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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.