Fibonacci Retracements Analysis 18.02.2016 (EUR/USD, EUR/GBP)

18.02.2016

Analysis for February 18th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the group of upper fibo-levels, Eurodollar has started a new correction. The closest target is the group of local retracements at 1.1100. If the price breaks them, the market may continue falling.



At the H1 chart, the downside target is confirmed by the local retracements. It’s highly likely that on Thursday, the pair may break the local low.




EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached its upside targets and right now is being corrected. After completing the short-term correction, the price may continue falling towards the group of local retracements at 0.7690.



At the H1 chart, the closest targets of the current descending movement are confirmed by local retracements. Earlier, the pair rebounded from the correctional retracement of 61.8%, and, as a result, started a new descending movement.



 
RoboForex Analytical Department

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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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