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

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.



 
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