Fibonacci Retracements Analysis 26.08.2015 (EUR/USD, EUR/GBP)


Analysis for August 26th, 2015

EUR USD, “Euro vs US Dollar”

Yesterday, Eurodollar rebounded from the retracement of 38.2%, which means that it may resume growing. Possibly, the market may reach a new high very soon. The closest target is the group of upper fibo-levels at 1.1830.

As we can see at the H1 chart, the predicted target of the current correction, from which the pair rebounded yesterday, is confirmed by local retracements. I’m holding a buy order and planning to increase my position later.

EUR GBP, “Euro vs Great Britain Pound”

The pair is also being corrected; the retracement of 38.2% has provided resistance. Taking into account that the market has rebounded from this level, the price may resume growing towards the upper target levels.

At the H1 chart, the predicted target of the current correction is confirmed by local retracements. It looks like during the day the market is going to resume moving upwards to reach the upper targets.

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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.