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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Analysis on Fibonacci for EUR/USD and EUR/GBP on 19.07.2016
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Analysis on Fibonacci for EUR/USD and EUR/GBP on 19.07.2016

19.07.2016
Analysis on Fibonacci on July 19, 2016

EUR USD "Euro US Dollar"


Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 19, 2016

Double pullback from correction mark 50% pointed on possibility of resuming of the pair descending. If during the day price fixes bellow mark 23.6% (1.1031), that will indicate on possibility of further descending movement of the pair towards the nearest crowd of fibo-levels (1.0810).



Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 19, 2016

On 1 hour chart, target for completion of local correction is mark 50% that may be tested by price already during the day. If we see pullback from that level, resuming of descending and breakage of the last minimum will become possible.


EUR GBP "Euro to British Pound"

Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 19, 2016

It is quite likely that cross pair will continue descending correction, because price could not fix above mark 23.6%. Possible bearish target is fibo-level 50% (0.8110).


Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 19, 2016

On 1 hour chart, the second pullback is formed from corrected mark 61.8% (0.8383). So during Tuesday, beginning of new coil of cross descending to mark 50% is possible (0.8110) that is confirmed by inter-daily fibo-levels.

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