Fibonacci Retracements Analysis 22.04.2016 (EUR/USD, EUR/GBP)


Analysis for April 22nd, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, Eurodollar rebounded from the correctional retracement of 61.8% once again. Consequently, in the nearest future the market may continue its descending movement. The closest target is still the group of downside retracements at 1.1200 – 1.1190.

At the H1 chart, the downside targets are confirmed by intraday fibo-levels, which make them even more important. It’s highly likely that on Friday the market may continue falling. If the price rebounds from the specified targets, it may start a new correction.

EUR GBP, “Euro vs Great Britain Pound”

Europound is still moving downwards as the correction continues. It’s highly likely that in the nearest future the market may test the group of closest retracements at 0.7810 – 0.7800. If the price breaks this area, the pair may fall much deeper.

At the H1 chart, yesterday Europound rebounded from the local correctional retracement of 61.8%. The downside targets are confirmed by intraday fibo-levels. Consequently, on Friday the market may continue moving downwards.

RoboForex Analytical Department


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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