Analysis on Fibonacci for EUR/USD and EUR/GBP on 20.07.2016

20.07.2016
Analysis on Fibonacci on July 20, 2016

EUR USD "Euro to US Dollar"


Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 20, 2016

Pullback from correction mark 50% resulted in new coil of Euro-US Dollar descending. Apparently, after completion of local correction, market may continue to descend towards the nearest crowd of fibo-level (1.0810).



Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 20, 2016

Recently, pullback from correction mark 38.2% was on 1 hour chart. Currently market is corrected, but soon resuming of descending towards lower targets, that are confirmed by local fibo-levels, is possible.



EUR GBP "Euro to British Pound"

Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 20, 2016

Cross pair, apparently, soon will continue descending correction because price could not fix above mark 23.6%. Possible bearish target is fibo-level 50% (0.8110).



Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 20, 2016

Double pullback from local correction mark 78.6% was on 1 hour chart that pointed on possibillity of resuming of quotation descending. So, soon breakage of last week low is possible.

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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