Fibonacci Retracements Analysis 21.08.2015 (EUR/USD, EUR/GBP)

21.08.2015

Analysis for August 21st, 2015

EUR USD, “Euro vs US Dollar”

The pair has started a fast growth, possibly continuing the correction on the daily chart. The closest target for bulls is the group of upper fibo-levels at 1.16. I’m planning to open a buy order during the local correction.



As we can see at the H1 chart, the group of local retracements at 1.1400 – 1.1420 may provide resistance form the current ascending movement. If the pair rebounds from this area, the market may start a descending correction.




EUR GBP, “Euro vs Great Britain Pound”

After rebounding from the correctional retracement of 61.8%, Europound hast started a fast ascending rally and renewed the last week’s high. The closest target for bulls is the group of upper fibo-levels at 0.7275.



If the pair rebounds from the group of local retracements at 0.7210 at the H1 chart, the market may start a descending correction. After the correction, I’m planning to start buying as the price continues moving upwards.



 
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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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