Fibonacci Retracements Analysis 02.06.2015 (EUR/USD, EUR/GBP)

02.06.2015

Analysis for June 2nd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside flat. The price has rebounded from retracement 50%, and, possibly, it may be a signal for the market to resume the downtrend. The main target is still the group of lower fibo-levels at 1.0720.



As we can see at the H1 chart, the lower targets are confirmed by local retracements. I opened another sell order when the price rebounded from the upper fibo-levels. I’m planning to move the stop loss to breakeven when the price breaks the minimum.




EUR GBP, “Euro vs Great Britain Pound”

Europound is trying to rebound from a correctional retracement 61.8%. Probably, in the future the pair may fall towards its previous lows. The closest target is still the group of lower fibo-levels at 0.6975.



As we can see at the H1 chart, the price hasn’t been able to stay above retracement 61.8%. Probably, in the future the pair may start another descending movement towards the lower targets, which are confirmed by local retracements.



 
RoboForex Analytical Department

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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question