Fibonacci Retracements Analysis 23.04.2015 (EUR/USD, EUR/GBP)


Analysis for April 23rd, 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 started a new correction. Possibly, in the nearest future the price may test a local correctional retracement 61.8%. Later, the market may resume falling towards the group of lower fibo-levels at 1.0580.

EUR GBP, “Euro vs Great Britain Pound”

Probably, this pair also may continue falling inside the downtrend in the nearest future. Possibly, this decline may continue up to the group of lower fibo-levels at 0.7060. After reaching them, the market may start a local correction at least.

At the H1 chart, the pair may test retracement 61.8% 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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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.