Fibonacci Retracements Analysis 24.04.2015 (EUR/USD, EUR/GBP)


Analysis for April 24th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is making another attempt 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 break the current local low. Later, the market is expected to 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 the H1 chart, the pair has rebounded from retracement 78.6% 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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