Fibonacci Retracements Analysis 22.04.2015 (EUR/USD, EUR/GBP)


Analysis for April 22nd, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from retracement 61.8%, Eurodollar is trying to resume falling. Possibly, in the future the price may fall towards the group of lower fibo-levels at 1.0220. So far, I’m holding one sell order, but later I’m planning to increase my short position.

As we can see at the H1 chart, the pair has rebounded not only from retracement 61.8%, but from several less important fibo-levels as well. Possibly, in the nearest future the price may test several local retracements at 1.0580 and then start a new correction from this area.

EUR GBP, “Euro vs Great Britain Pound”

Probably, this pair also may continue falling inside the downtrend in the nearest future. The target is still the group of lower fibo-levels at 0.7100. After reaching them, the market may start a local correction at least.

At the H1 chart, I’ve opened a sell order during the correction. The lower targets are confirmed by local retracements. If the market makes small pauses while moving downwards, I’m planning to open several more sell orders.

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