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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Analysis on Fibonacci for EUR/USD and EUR/GBP on 18.07.2016
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Analysis on Fibonacci for EUR/USD and EUR/GBP on 18.07.2016

18.07.2016
Analysis on Fibonacci on July 18, 2016

EUR USD "Euro to US Dollar"


Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 18, 2016

After repeated pullback from mark 50%, Euro-US Dollar tries to return to descending. The nearest target is still lower crowd of fibo-levels in area of 1.0810. If further there are pullback from it, beginning of upward correction will be possible.



Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 18, 2016

On 1 hour chart there were pullback from local correction mark 38.2%. So, during Monday, resuming of Euro-US Dollar descending and breakage of Friday's minimum are possible.



EUR GBP "Euro to British Pound"

Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 18, 2016

Cross pair did not fix above mark 23.6% that opens the way for continuation of downward correction. The nearest orienting point for its completion is fibo-level 50% (0.8110).



Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 18, 2016

On 1 hour chart, price found resistance on inner-daily correction mark 78.6%. Lower crowd of fibo-levels is confirmed by local fibo-levels but allof them are above the main target on line 50%. And completion of the correction may not reach slightly 50% forming pullback from one of local fibo-levels.

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