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Fibonacci Retracements Analysis 10.08.2015 (EUR/USD, EUR/GBP)

Analysis for August 10th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar may yet continue moving downwards. It’s highly likely that in the nearest future the local growth may continue. At the same time, the target is still the group of lower fibo-levels.

As we can see at the H1 chart, the current correction may finish near the group of fibo-levels at 1.0990. If later the price rebounds from this area, it may resume moving downwards.

EUR GBP, “Euro vs Great Britain Pound”

The mains scenario still implies that the Europound may start a deeper ascending correction. Possibly, during the next several days, the market may test the group of upper fibo-levels. If the price rebounds from this area, it may resume falling.

As we can see at the H1 chart, the price may form a short-term descending correction towards the retracement of 61.8%. If the pair rebounds from it, the market is expected to start a new growth towards the upper target area.

RoboForex Analytical Department

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