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Thread: Fibonacci Retracements Analysis

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    Fibonacci Retracements Analysis



    The EUR/USD currency pair rebounded from the level of 38.2%, just as we expected. The bears are trying to renew a descending trend; I opened one more sell order. In the near term, the pair is expected to continue falling down towards the target area, where there are several fibo-levels at the same time.

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    Fibonacci Retracements Analysis 15.08.2018 (GBPUSD, EURJPY)



    As we can see in the H4 chart, GBPUSD is still moving downwards to reach the retracements of 61.8% and 76.0% at 1.2580 and 1.2170 respectively. At the same time, the convergence is being formed, which may indicate a possible pullback in the future after the instrument reaches its short-term targets.

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