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Fibonacci Retracements Analysis 22.05.2015 (EUR/USD, EUR/GBP)

Analysis for May 22nd, 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 a correctional 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 the next several days.




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 50%. Probably, in the nearest future the pair will continue falling. The lower targets are confirmed by local retracements.



 
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