Fibonacci Retracements Analysis 28.08.2015 (EUR/USD, EUR/GBP)
28.08.2015
Analysis for August 28th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar is starting a new descending movement. After rebounding from several upper fibo-levels, the price is falling steadily. During the correction, I opened a sell order. It looks like later the market is going to reach several new lows.
As we can see at the H1 chart, the closest target is the group of fibo-levels at 1.1115. The pair has been able to stay below the retracement of 23.6%, that is why the market may break the minimum during Friday. Later, the pair may start a local correction from the lower area.
EUR GBP, “Euro vs Great Britain Pound”
Probably, Europound is resuming its decline as well. Earlier, the pair rebounded from the upper fibo-levels and now may continue moving towards the closest downside target at 0.7220.
At the H1 chart, the closest downside target is confirmed by local retracements. Consequently, in the nearest future the pair may break the previous low. Later, I’m planning to open a sell order.
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