Fibonacci Retracements Analysis 28.05.2015 (EUR/USD, EUR/GBP)
28.05.2015
Analysis for May 28th, 2015
EUR USD, “Euro vs US Dollar”
Possibly, Eurodollar will continue falling despite the current correction. Probably, the price may try to test retracement 78.6% during the week. If later the pair rebounds from it, the market may start a more serious correction.
As we can see at the H1 chart, the lower targets are confirmed by local retracements. Right now, I’m staying out of the market. I’m planning to start selling again when the market rebounds from retracement 78.6%.
EUR GBP, “Euro vs Great Britain Pound”
Europound continues falling, but in the nearest future, it may form a correction. The closest target is still the group of lower fibo-levels at 0.6975. Just as I planned, during the correction I opened one more sell order.
As we can see at the H1 chart, the price is trying to reach retracement 61.8%. Probably, in the future the pair may break the current low and resume falling towards the lower targets, which are confirmed by local retracements.
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