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Analysis on Fibonacci for EUR/USD and EUR/GBP on 22.07.2016

Analysis on Fibonacci on July 22, 2016

EUR USD "Euro to US Dollar"


Analysis on fibonacci for EUR USD "Euro to US Dollar" on July 22, 2016

After pullback from fibo-level 50% Euro to US Dollar is descending again. It is quite likely that in the beginning of the next week market will test lower targets near 1.0810. If we see pullback to the top from that price area that will be a signal for beginning of upward correction.



Analysis on fibonacci for EUR USD "Euro to US Dollar" on July 22, 2016

On 1 hour chart price formed pullback from local correction mark 78.6%. So new coil of the pair descending to lower targets is possible that strengthened by intra-daily fibo-levels.



EUR GBP "Euro to British Pound"

Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 22, 2016

Cross pair continues local ascending correction. It is not excluded that price may find resistance on mark 50%. If there is pullback from that mark, then resuming of the pair descending towards local lows is highly possible.



Analysis on Fibonacci for EUR GBP "Euro to British Pound" on July 22, 2016

On 1 hour chart, target mark of 50% is confirmed by local fibo-levels.. It is quite likely that pullback from that area will be during the day that will indicate on possibility of beginning of cross descending.

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