Fibonacci Retracements Analysis 16.09.2015 (EUR/USD, EUR/GBP)

16.09.2015

Analysis for September 16th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still consolidating. If later the pair is able to stay below the retracement of 23.6%, the market may start falling towards the group of lower fibo-levels at 1.0630. I’m planning to open another sell order when the pair finishes the local correction.



At the H1 chart, the predicted target of the current correction, which is at the retracement of 38.2%, is confirmed by local retracements. I’m holding one sell order. If later the price is able to stay below the retracement of 23.6%, I’m planning to open another sell order.




EUR GBP, “Euro vs Great Britain Pound”

It looks like Europound is going to test the group of upper fibo-levels again. If the market rebounds from them, it may start falling towards the closest downside target at 0.7220.



At the H1 chart, the price may try to test the retracement of 78.6% once again. If the pair rebounds from this level, it may resume falling. In this case, I’m planning to open a sell order.



 
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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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