Fibonacci Retracements Analysis 13.03.2015 (EUR/USD, EUR/GBP)


Analysis for March 13th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has reached its previous target area and started a correction. Probably, later the price may continue falling towards the next group of fibo-levels at 1.0220. After reaching them, the market may start a larger correction.

As we can see at the H1 chart, the updated target area is confirmed by local retracements. If the market rebounds from a correctional retracement 50% in the nearest future, I’m planning to open another sell order.

EUR GBP, “Euro vs Great Britain Pound”

After rebounding from its target area, the pair has started a correction. Possibly, in the near term the price may continue falling towards deeper targets at 0.6900.

As we can see at the H1 chart, the current correction may yet continue towards retracement 61.8%. Possibly, later the price may resume moving downwards. The target area of the correction is confirmed by local retracement, which make this area even more important.

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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.