Fibonacci Retracements Analysis 27.08.2015 (EUR/USD, EUR/GBP)
27.08.2015
Analysis for August 27th, 2015
EUR USD, “Euro vs US Dollar”
Probably, Eurodollar is starting a new descending movement. After rebounding from the group of upper fibo-levels, the price is falling steadily. It looks like the market is going to reach several new lows during the next 24 hours.
As we can see at the H1 chart, the closest target is the group of fibo-levels at 1.1115. Later, after reaching this area, the market may start a new local correction, after which I’m planning to open a sell order.
EUR GBP, “Euro vs Great Britain Pound”
Probably, Europound is resuming its decline as well. The pair has rebounded from the upper fibo-levels and now may continue moving towards the closest downside target at 0.7220.
At the H1 chart, the closest downside target is confirmed by local retracements. Consequently, in the nearest future the pair may break the previous low. Later, I’m planning to open a sell order during the correction.
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