Fibonacci analysis of EUR/USD and EUR/GBP for 17.07.2015

17.07.2015
Fibonacci analysis for 17 July 2015

EUR USD "Eurodollar"


Fibonacci analysis of EUR/USD for 17.07.2015

The euro continues to decline. A few days ago the market developed a series of retreats from the correctional mark of 50%. The lower cluster of fibo-levels in the region of 1.0640 is still relevant.



Fibonacci analysis of EUR/USD for 17.07.2015

On the hourly chart, after the jump away from the correctional level of 50%, the downward movement was resumed. The intermediate target still stands at the cluster of levels near 1.0790. Probably, during the day we will see the break through the local minimum.



EUR GBP "Euro to British pound"

Fibonacci analysis of EUR/GBP for 17.07.2015

The Cross steadily progressed down. Earlier, the price formed a retreat from the correctional level of 50%. The aim for the near future is at the cluster of fibo-levels at the 0.6870 mark. Earlier, at the end of the local correction, I entered into a deal to sell more.



Fibonacci analysis of EUR/GBP for 17.07.2015

On the hourly chart the price is steadily moving towards the main targets. Subsequently, I plan to increase the volume of short positions. In the event of a retreat from the lower levels, a beginning of an upward correction is possible.


RoboForex Analytical Department
Attention!

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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