Fibonacci Retracements Analysis 09.03.2015 (EUR/USD, EUR/GBP)


Analysis for March 9th, 2015

EUR USD, “Euro vs US Dollar”

Last Friday, Eurodollar reached its targets. Probably, the pair may continue falling towards the next group of fibo-levels at 1.0650. I’ve opened another sell order during a local correction.

As we can see at the H1 chart, the lower targets are confirmed by local retracements. When the price completed a short-term correction at retracement 23.6%, I opened one more sell order. I’ll move the stop loss on this order to breakeven as soon as the market breaks the minimum.

EUR GBP, “Euro vs Great Britain Pound”

The target is still at the group of lower fibo-levels. If later the market rebounds from these levels, the price may start a deeper correction. I’m staying out of the market right now due to the high volatility.

As we can see at the H1 chart, the target area is confirmed by local retracements. If the pair rebounds from a local retracement 38.2%, the market will resume falling.

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