Fibonacci Retracements Analysis 24.11.2015 (EUR/USD, EUR/GBP)

24.11.2015

Analysis for November 24th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the retracement of 61.8%, Eurodollar has resumed its decline. The main target is still the group of lower fibo-levels at 1.0450. It’s highly likely that in the nearest future the market is going to continue falling.



As we can see at the H1 chart, the price is trying to rebound from the retracement of 38.2%. On Tuesday, the pair may complete the correction, break the minimum, and then continue falling towards downside targets.




EUR GBP, “Euro vs Great Britain Pound”

Europound is about to complete the local correction as well. Probably, in the nearest future the market may resume its decline towards the group of lower fibo-levels at 0.6875.



As we can see at the H1 chart, the price may complete its short-term correction at the retracement of 38.2%. If the pair rebounds from it, the market may start falling towards the local group of fibo-levels at 0.6945. After reaching them, the price may start an ascending correction.



 
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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