Fibonacci Retracements Analysis 21.05.2015 (EUR/USD, EUR/GBP)

21.05.2015

Analysis for May 21st, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has rebounded from the group of local retracements and started falling fast. In the nearest future, the pair may continue moving downwards to reach the closest group of fibo-levels close to retracements 61.8% at 1.0900.



As we can see at the H1 chart, the target of the current correction is confirmed by local retracements. Earlier during the correction, I opened a sell order; the stop loss is already in breakeven. Probably, the market may reach several new lows during Thursday.




EUR GBP, “Euro vs Great Britain Pound”

Europound is trying to resume its descending movement. The closest target is still the group of lower fibo-levels at 0.6975. During the local correction, I opened a sell order; the stop loss is already in breakeven.



As we can see at the H1 chart, the pair has rebounded from a local correctional retracement 38.2%. Probably, in the nearest future the pair will continue falling. The lower targets are confirmed by local retracements.



 
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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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