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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Fibonacci analysis for EUR / USD and EUR / GBP on 23.12.2015
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Fibonacci analysis for EUR / USD and EUR / GBP on 23.12.2015

23.12.2015
Fibonacci analysis on 23 December 2015

EUR USD "Euro dollar"


Fibonacci analysis for EUR USD "Euro dollar" 23 December 2015

The euro is trying to return to a decline. Earlier, the price formed a retreat from the congestion of the upper Fibo levels in the region of 50% (1.1000). The immediate target for the continuation of the correction is the lower price area (1.0730).



Fibonacci analysis for EUR USD "Euro dollar" 23 December 2015

The market failed to stay above the 61.8% correctional mark and has traded below this line. The lower the target area on the hourly chart is also amplified by local levels. In the short term a further decline in prices is likely.



EUR GBP "Euro to the British pound"

Fibonacci analysis for EUR GBP "Euro to the British pound" 23 December 2015

The attempt to gain a foothold above the cluster of Fibo levels (0.7385) was not successful, and the price went into a correction. The immediate goal for the bears appears to be the price area near 0.7290. With the breakdown of this zone the correction may deepen.



Fibonacci analysis for EUR GBP "Euro to the British pound" 23 December 2015

On the hourly chart the next lower goal is confirmed by local Fibo levels. During Wednesday a further decline in prices may occur. On the correction I plan to enter into a short-term deal to sell.

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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.