Fibonacci Retracements Analysis 13.08.2015 (EUR/USD, EUR/GBP)

13.08.2015

Analysis for August 13th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has successfully rebounded from the group of upper fibo-levels. Possibly, the price is resuming its decline, that’s why it may continue falling towards the lows during the next several weeks. I’m holding a sell order and in the future planning to increase my position.



As we can see at the H1 chart, the upper area, which may have been the target of the current ascending correction, is confirmed by local retracements.  In the nearest future, the pair may continue moving downwards.




EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached the group of upper fibo-levels, rebounded from them, and may start a new descending movement. The target is still the group of lower fibo-levels.



As we can see at the H1 chart, the group of upper fibo-levels, which may have been the target of the current ascending correction, is confirmed by local retracements. After the short-term correction, I’m planning to open additional sell orders.



 
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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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