Fibonacci Retracements Analysis 17.08.2015 (EUR/USD, EUR/GBP)

Analysis for August 17^th, 2015

EUR USD, “Euro vs US Dollar”

Last week, Eurodollar successfully rebounded from the group of upper fibo-levels. Possibly, later the price may start moving towards the lower targets at 1.0670 – 1.0650. I’m holding a sell order and in the future planning to increase my position.



As we can see at the H1 chart, last Friday the pair rebounded from the correctional retracement of 78.6%. It’s highly likely that the price may reach a new low on Monday. The closest target is the group of fibo-levels at 1.0960 – 1.0950.

EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached the group of upper fibo-levels, rebounded from them, and may start a new descending movement. The target is still the group of lower fibo-levels. During the correction, I’m planning to open a sell order.



As we can see at the H1 chart, the pair has rebounded from the correctional retracement of 78.6% and tested the group of upper fibo-levels once again. The closest target is the area at 0.7020 - 0.7010, formed by several retracements.



 
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