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Fibonacci Retracements Analysis 14.08.2015 (EUR/USD, EUR/GBP)

Analysis for August 14th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has successfully rebounded from the group of upper fibo-levels. Possibly, the price may test this area one more time and rebounds from it again. I’m holding a sell order and in the future planning to increase my position.



As we can see at the H1 chart, the upper area, which may have been the target of the current ascending correction, is confirmed by local retracements.  In the nearest future, the pair may rebounds from the correctional retracement of 78.6%.




EUR GBP, “Euro vs Great Britain Pound”

Europound has successfully reached the group of upper fibo-levels, rebounded from them, and may start a new descending movement. The target is still the group of lower fibo-levels.



As we can see at the H1 chart, the group of upper fibo-levels, which may have been the target of the current ascending correction, is confirmed by local retracements. It’s highly likely that in the nearest future the pair may rebound from the correctional retracement of 78.6% and start falling.



 
RoboForex Analytical Department

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