Fibonacci Retracements Analysis 01.04.2015 (EUR/USD, EUR/GBP)

Analysis for April 1^st, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from retracement 50% several times, Eurodollar has resumed falling. Earlier I opened another short-term order during the correction and plan to move the stop loss to breakeven when the market breaks the minimum.



As we can see at the H1 chart, the target of the current correction was confirmed by local retracements. The closest target is the group of intermediate fibo-levels at 1.0700. After reaching it, the market may start a local pullback upwards.

EUR GBP, “Euro vs Great Britain Pound”

After completing the correction at retracement 61.8%, the price is attempting to resume the main downtrend. I’ve got two sell order and plan to open another one when the pair completes the current correction.



As we can see at the H1 chart, the correction has reached retracement 50%. If the market rebounds from it, the price may resume falling. The target is the group of intermediate fibo-levels at 0.7155 – 0.7145. In the future, the pair may start a local correction from this area. If it happens, I’ll open another order.



 
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