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Fibonacci Retracements Analysis 03.07.2015 (EUR/USD, EUR/GBP)

Analysis for July 3rd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to resume its movement inside the downtrend. In the future, the pair may break the previous low. The closest target is still the group of fibo-levels at 1.0660. After reaching it, the market may start an ascending correction.



As we can see at the H1 chart, the price has rebounded from a local retracement 61.8%. The lower targets are confirmed by local retracements. I’m planning to move the stop loss on my current orders to the previous high as soon as the market breaks the minimum.




EUR GBP, “Euro vs Great Britain Pound”

After a significant gap down, Europound has started a fast ascending correction. The target for the next several days is still the group of fibo-levels at 0.7020. After the local correction, I’m planning to open a sell order.



At the H1 chart, the price has rebounded from retracement 78.6% during the correction. The lower targets are confirmed by local retracements. If later the price rebounds from this area, the market may start an ascending correction.



 
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