Fibonacci Retracements Analysis 03.03.2015 (EUR/USD, EUR/GBP)


Analysis for March 3rd, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the upper fibo-levels several times, Eurodollar resumed falling. The closest target for bears is the group of fibo-levels at 1.0940. I’m planning to stop trading after the pair reaches the above-mentioned area.

At the H1 chart, yesterday the pair rebounded from a local retracement 38.2%. Earlier I’d opened an additional sell order and moved the stop losses on my previous ones a bit lower. Possibly, the market may reach its lower targets in the nearest future.

EUR GBP, “Euro vs Great Britain Pound”

The pair is being corrected and may test the closest retracement 38.2% during the day. The target is still at the group of lower fibo-levels. In the near term, if the market rebounds from retracement 38.2%, it may continue moving inside the downtrend.

As we can see at the H1 chart, the price has started a local correction. Probably, in the nearest future, the pair may rebound from retracement 38.2% and then resume falling towards the lower target area.

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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.