Fibonacci Retracements Analysis 08.09.2015 (EUR/USD, EUR/GBP)

08.09.2015

Analysis for September 8th, 2015

EUR USD, “Euro vs US Dollar”

The Eurodollar is attempting to renew its decline. The immediate goal is the accumulation of lower fibo levels (1.0000 - 0.9970). Two deals for sale are still in play, and later on I plan to increase the volume of short positions.



On the hourly chart the price has formed a retreat from the local level of 50%. Lower accumulation of Fibo levels around 1.1055 still remains relevant. Later on a correction may start in this price region.




EUR GBP, “Euro vs Great Britain Pound”

The Europound has formed a double retreat from the congestion of the upper Fibo levels. In the short term a downward movement to the nearest target, located in the area of 0.7220, is possible. In case of breaking through the mark, a deeper decline will be possible.



On the hourly chart the price has formed a retreat from the correctional level of 61.8%. The next goal is confirmed by lower local Fibo levels. In the short term a further decrease in the cross may happen.



 
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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.

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