Fibonacci Retracements Analysis 31.08.2015 (EUR/USD, EUR/GBP)


Analysis for August 31st, 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, the stop loss on which is already in breakeven. 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. Later, the pair may start a new correction from this area. After this correction, I’m planning to sell more actively.

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 right 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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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.