Anlalysis on Fiboonacci for EUR/USD and EUR/GBP on 21.07.2016

21.07.2016
Analysis on Fibonacci on July 21, 2016
 
EUR USD "Euro to US Dollar"

Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 21, 2016

Euro to US Dollar after pullback from correction mark 50% keeps to descend. Soon completion of local correction is possible that may lead to resuming of the pair descending towards lower targets (1.0810).



Analysis on Fibonacci for EUR USD "Euro to US Dollar" on July 21, 2016

On 1 hour chart, double pullback was formed from local correction mark 61.8%. And soon resuming of the price descending is possible towards lower targets that are confirmed by intra-daily fibo-levels.



EUR GBP "Euro to British Pound"

Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 21, 2016

Apparently, cross pair soon will continue downward correction because price could not fix above 23.6%. Possible bearish target is fobo-level 50% (0.8110).



Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 21, 2016

On 1 hour chart, double pullback was formed from local correction mark 78.6% that pointed on possibility of resuming of reducing of quotation. 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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