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Fibonacci Retracements Analysis 20.07.2015 (EUR/USD, EUR/GBP)

Analysis for July 20th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is moving close to its lows. Last week, the pair rebounded several times from a correctional retracement 50%. The target is still the group of lower fibo-levels at 1.0640 – the price may reach them during the next several days.

As we can see at the H1 chart, after rebounding from a correctional retracement 50%, the pair has resumed falling. The intermediate target is the group of fibo-levels at 1.0720. Probably, the market break the local low during the day.

EUR GBP, “Euro vs Great Britain Pound”

Europound continues falling. Earlier, the pair has rebounded from a correctional retracement 50%. The target for the nearest future is the group of fibo-levels at 0.6870. I’m planning to open another sell order when the pair completes the local correction.

As we can see at the H1 chart, the price continues falling and reaches new low every day. In the future, I’m planning to increase my short position. If the price rebounds from the lower levels, it may start an ascending correction.

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