Fibonacci Retracements Analysis 10.04.2015 (EUR/USD, EUR/GBP)


Analysis for April 10th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the group of upper fibo-levels several times, Eurodollar is back to falling. I’m still holding a sell order. Possibly, during Friday the price may reach several new lows and continue falling towards its lower targets.

As we can see at the H1 chart, the price has moved very close to the group of intermediate fibo-levels at 1.0600. Later the pair may rebound from the above-mentioned area and start a new local correction, after which I’m planning to open another sell order.

EUR GBP, “Euro vs Great Britain Pound”

Euro pound has resumed falling and broken a local low.  Earlier the pair rebounded from the group of upper fibo-levels several times. The closest target is the area close to several retracements at 0.7150.

As we can see at the H1 chart, the predicted target of the current descending movement is confirmed by local retracements. The stop losses on my sell orders are already in breakeven. Later I’m planning to increase my position.

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