Fibonacci Retracements Analysis 06.04.2015 (EUR/USD, EUR/GBP)

06.04.2015

Analysis for April 6th, 2015

EUR USD, “Euro vs US Dollar”

The correction continues. Probably, the market may continue moving towards the group of upper fibo-levels at 1.1130. If later the price rebounds from them, the main downtrend may resume.



As we can see at the H1 chart, the target of the current correction was confirmed by local retracements. I’ve got any open orders right now, but I’m planning to open a sell order if the pair rebounds from the predicted target area. We should note that the current ascending correction may continue if the price breaks the predicted target levels.




EUR GBP, “Euro vs Great Britain Pound”

This pair is also being corrected. It looks like the market is going to reach a new local high during the day. The target of the current correction is the group of upper fibo-levels at 0.7470.



As we can see at the H1 chart, the predicted target of the current correction is confirmed by local retracements. If the market rebounds from them, I’m planning to open a sell order with the stop loss placed above the current maximum.



 
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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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