Fibonacci Retracements Analysis 25.08.2016 (EUR/USD, EUR/GBP)

25.08.2016

Analysis for August 25th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating below the correctional retracement of 78.6%, which means that it may resume moving downwards. The closest bearish target is the retracement of 61.8%. If later the price breaks this level, the market may continue falling much deeper.



At the H1 chart, the target of the current local correction is retracement of 50%. If the pair rebounds from this level, the price may resume moving towards the group of fibo-levels at 1.1230 – 1.1235.




EUR GBP, “Euro vs Great Britain Pound”

Yesterday, the EUR/GBP pair rebounded from the correctional retracement of 61.8% twice. However, if the price breaks the retracement of 50%, the market may resume moving downwards to reach the retracement of 78.6%.



At the H1 chart, the target of the current local correction is the retracement of 38.2%. If later the price rebounds from this level, the market will start a new descending movement.



 
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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