Fibonacci Retracements Analysis 16.06.2015 (EUR/USD, EUR/GBP)

June 16, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is testing the group of upper fibo-levels again. If the price rebounds one more time, it may continue falling. The closest target for bears is the group of fibo-levels at 1.0950. If the price breaks this area, it may continue falling much deeper.

As we can see at the H1 chart, the pair was just several pips shy to reach a correctional retracement 78.6%. If later the price is able to stay below a correctional retracement 50%, the market may resume moving downwards. The intermediate target, which is confirmed by local retracements, is still at 1.0950.

EUR GBP, “Euro vs Great Britain Pound”

Europound may also continue the current descending correction. The price has rebounded one more time from the same group of fibo-levels it tested several days earlier. In the nearest future, the market may continue falling towards retracement 23.6%, which is confirmed by local retracements.

As we can see at the H1 chart, the closest target for bears is the group of fibo-levels at 0.7070. If the price breaks this area, the pair may continue falling much deeper.

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