Fibonacci Retracements Analysis 10.09.2015 (EUR/USD, EUR/GBP)

10.09.2015

Analysis for September 10th, 2015

EUR USD, “Euro vs US Dollar”

The Eurodollar is trying to return to a decline. Previously, a rebound from upper congestion of Fibo levels was formed. In the short term further decline of the pair may occur to the nearest target in the area of 1.0630, a break through of which will leave the price even lower.



On the hourly chart the price has formed a retreat from the local level of 61.8%. The lower accumulation of Fibo levels around 1.0950 still remains relevant. Later on in this price region a correction may start.




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 is possible, located in the area of 0.7220. In case of breaking of this level a deeper decline will become 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 of this cross is possible.



 
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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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