Fibonacci Retracements Analysis 23.09.2015 (EUR/USD, EUR/GBP)
23.09.2015
Analysis for September 23rd, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the correctional retracement of 61.8%, Eurodollar has resumed its descending movement. The closest target is still the group of lower fibo-levels at 1.0640. It’s highly likely that quite soon the market may break the minimum formed in the beginning of September.
At the H1 chart, Eurodollar continues falling. The closest target for bears is the group of local retracements at 1.0940. If later the market rebounds from this area, it may start a new ascending correction.
EUR GBP, “Euro vs Great Britain Pound”
After reaching its first “bearish” target, Europound has started an ascending correction. In the future, the pair may yet continue falling towards the next group of fibo-level at 0.7140.
As we can see at the H1 chart, the price is moving near the correctional retracement of 38.2%. If the pair is unable to stay above this level, the market may start another descending movement towards the lower targets, which are confirmed by local retracements.
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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.